LONDON, April 27 (Reuters): Oil rebounded to $66 a barrel on Tuesday on speculation that a meeting of producer group OPEC+ may tweak oil output policy to address India's coronavirus crisis that could dent fuel demand.
OPEC and allies will hold a monitoring meeting on Tuesday instead of April 28 as planned earlier.
Oil prices rose Wednesday after the OPEC+ alliance made bullish predictions signaling a strong global oil demand recovery this year despite COVID-19 flare-ups in India and an expected build in U.S. crude stocks. International benchmark Brent crude was trading at $66.17 per barrel at 6:43 a.m. GMT for a 0.45% rise after closing Tuesday at $65.87 per barrel.....
Oil prices recouped earlier losses and were rising by more than 1 percent on Monday morning, after the European Union unveiled a plan to open its borders to vaccinated tourists, giving more hope to oil bulls that economies and oil demand are set for a rebound in the summer months. As of 10:28 a.m. EDT on Monday, WTI Crude was trading up 1.46 percent at $64.47, and Brent Crude prices had risen by 1.26 percent at $67.57.
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Posted by bullmarket1628 > 2021-04-12 19:11 |
Post removed.Why?