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Caspian Energy Journal Caspian European Club
Monday, 15 April 2019 11:00

Oil dips, supply issues in focus

Oil dips, supply issues in focus

Oil prices edged lower on Monday after international benchmark Brent hit a fresh five-month high in the previous session, but concerns over global supplies kept prices well supported, Caspian Energy News (www.caspianenergy.net) reports with reference to Reuters.

Brent crude oil futures were at $71.46 a barrel at 0233 GMT, down 9 cents, or 0.1 percent, from their last close, having hit their highest since Nov. 12 on Friday at $71.87.

U.S. West Texas Intermediate (WTI) crude futures were at $63.63 per barrel, down 26 cents, or 0.4 percent, from their last settlement.

The Organization of the Petroleum Exporting Countries (OPEC) and its allies meet in June to decide whether to continue withholding supply. OPEC, Russia and other producers, are reducing output by 1.2 million bpd from Jan. 1 for six months.

More details: https://www.reuters.com/article/us-global-oil/oil-dips-supply-issues-in-focus-idUSKCN1RR01H

Person in charge of the newsline: Olga Nagiyeva 

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