• Home
  • Oil prices rise on signals OPEC might cut output
Oil prices rose, boosted by signals from Saudi Arabia that OPEC could cut output.  Trading was volatile as investors digested and ultimately shrugged off warnings from the head of the U.S. Federal Reserve about economic pain ahead.  The United Arab Emirates became the latest OPEC+ member to state it is aligned with Saudi Arabia's thinking on crude markets and Saudi Arabia flagged the possibility of production cuts to offset the return of Iranian barrels to oil markets should Tehran clinch a nuclear deal with the West.

Oil prices rise on signals OPEC might cut output

Oil prices rose, boosted by signals from Saudi Arabia that OPEC could cut output.  Trading was volatile as investors digested and ultimately shrugged off warnings from the head of the U.S. Federal Reserve about economic pain ahead.  The United Arab Emirates became the latest OPEC+ member to state it is aligned with Saudi Arabia’s thinking on crude markets and Saudi Arabia flagged the possibility of production cuts to offset the return of Iranian barrels to oil markets should Tehran clinch a nuclear deal with the West.

Issue:
Country:
Subscribe to Receive Latest Updates from GIF.