Thursday, 04 June 2020
Jakarta
--:--
Tokyo
--:--
Hongkong
--:--
New York
--:--
Oil Jumps Above $61 on Talk of Further OPEC+ Supply Curbs
Monday, 2 December 2019 18:26 WIB | ENERGY |Oil,BrentWTIMinyak

Oil jumped above $61 a barrel on Monday, supported by hints that OPEC and its allies may agree to deepen output cuts at a meeting this week and as rising manufacturing activity in China suggested stronger demand.

The Organization of the Petroleum Exporting Countries and allies including Russia are expected to extend output cuts this week and could increase the size of the curb by at least 400,000 barrels per day, two sources said.

Brent crude, the global benchmark, rose $1.20 to $61.69 a barrel by 08:25 GMT. U.S. West Texas Intermediate (WTI) crude added $1.05 to $56.22.

The so-called OPEC+ group has coordinated output for three years to balance the market and support prices. Their current deal to cut supply by 1.2 million bpd that started in January expires at the end of March 2020.

Source : CNBC

RELATED NEWS
Oil Slips With OPEC+ Discord and U.S. Demand Data Sowing Doubt...
Thursday, 4 June 2020 07:53 WIB

Oil retreated from a three-month high as OPEC+ unity was threatened by a long-running feud over complying with production cutbacks, while U.S. data cast doubt on the strength of the demand recovery. ...

Oil rises in volatile session as traders eye OPEC cuts...
Thursday, 4 June 2020 01:43 WIB

Oil moved between gains and losses in a volatile trading session, as demand continues to improve, but as doubts emerged about the timing and scale of a potential extension to the pact between OPEC and...

Oil Hits Three-Month High Over Hopes For Output Cuts...
Wednesday, 3 June 2020 09:46 WIB

Oil rose on Wednesday to a near three-month high amid optimism that major producers will extend production cuts as the world recovers from the coronavirus pandemic. Brent crude was up 22 cents, or 0....

Oil rises nearly 4% ahead of OPEC+ meeting, easing lockdowns...
Wednesday, 3 June 2020 01:48 WIB

Oil prices were up about $1 a barrel on Tuesday on expectations that major producers will agree to extend output cuts during a video conference likely to be held this week and as countries and U.S. st...

Oil Futures Rise on Hope of Extension of Global Production Cuts...
Tuesday, 2 June 2020 18:54 WIB

Crude-oil futures on Tuesday headed higher, at least partly supported by reports that major producers may agree to extend output cuts that terminate at the end of June to further steady oil prices. R...

LATEST NEWS
Gold Steadies After Biggest Drop in More Than a Month

Gold steadied after falling the most in more than a month as investors their lost appetite for havens amid a global stock rally driven by firming hopes for a swifter global economic recovery. Spot gold little changed at $1,700.36/oz at...

Hong Kong Stocks Rally Extends Into Fourth Day

Hong Kong shares climbed more than one percent at the open Thursday, pushing this week's rally into a fourth day on optimism over lockdowns easing, though investors will be keeping an eye on any protests in the city on the anniversary of the...

Euro Near Multi-Month High as Markets Bet on ECB Stimulus Boost

The euro held near multi-month highs against rival majors Thursday on expectations the European Central Bank will expand its bond buying programme later in the day to shore up the coronavirus-stricken economy. The euro's strength helped to push...

POPULAR NEWS
Gold Climbs As U.S. Riots Spark Safe-Haven Rush
Monday, 1 June 2020 16:00 WIB

Gold prices rose on Monday as riots in major U.S. cities rattled investors already reeling from strained China-U.S. relations and boosted demand for...

Gold futures post second straight loss
Wednesday, 3 June 2020 01:24 WIB

Gold futures on Tuesday posted a second consecutive session decline, with profit-taking and strength in global stock markets the key reasons cited...

Gold edges lower as investors play down U.S.-China tensions
Monday, 1 June 2020 19:54 WIB

Gold futures traded slightly lower Monday, losing ground as equities drifted into positive territory and investors appeared to play down U.S.-China...

Gold Prices See Subdued Rise, Buoyed By Weaker Dollar As Stocks Rally
Tuesday, 2 June 2020 19:23 WIB

Gold futures on Tuesday were edging higher on the back of a weaker U.S. dollar, with gains capped by the precious metal by a global rise in assets...