Tuesday 23 February 2016

CRUDE OIL PRICE RISES BY OVER 6%

Crude Oil Price Rises by over 6%Crude oil prices monday rose by over six per cent after the world’s oil consumer body, the International Energy Agency (IEA), said it expected United States shale production to fall this year and next, potentially easing a glut that has driven prices to their lowest in more than a decade.

Reuters reported that a bounce in global stock markets and the after-effects of a fall in the US oil rig count last week also supported prices.
 

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