DJIA25820.69
LIVE140.79(0.55%)
NDX7455.99
LIVE79.29(1.07%)

Oil Prices Firm Back to Near 5-Month Highs as OPEC Reveals March Cuts


Wednesday, 10 April 2019 19:59 WIB

MinyakWTIBrent


c_740_198_16777215_00_images_assets_Oil3_Cushing1.530x298.jpg

Oil futures prices firmed early Wednesday, trending back near the five-month closing highs reached earlier this week, as investors digested a monthly OPEC report that showed significant March output cuts by the cartel and its allies.

OPEC’s oil production fell significantly in March on the back of Saudi Arabia-led output curbs and outages in Venezuela resulting from political and economic unrest. In its closely-watched monthly oil market report, the Organization of the Petroleum Exporting Countries said its crude-oil output had fallen by 534,000 barrels a day month-on-month, to average 30.02 million barrels a day in March, according to secondary sources at the meetings, the Wall Street Journal reported.

U.S. benchmark West Texas Intermediate crude for May delivery on the New York Mercantile Exchange rose 35 cents, or 0.6%, at $64.33 a barrel. Prices are trying for their seventh higher day in the past eight after the contract marked the strongest finish since Oct. 31 on Monday, according to Dow Jones Market Data.

June Brent was up 22 cents, or 0.3%, to $70.83 a barrel on ICE Futures Europe. The contract’s settlement at $71.10 on Monday was the highest for a front-month contract since Nov. 7.

Source : Market Watch


RELATED NEWS

  • Minyak mencapai level multi-minggu tertinggi pada hari Senin setelah OPEC mengindikasikan kemungkinan untuk mempertahankan penurunan produksi yang telah membantu mendorong harga tahun ini, sementara m...

POPULAR NEWS

DISCLAIMER

Seluruh materi atau konten yang tersaji di dalam website ini hanya bersifat informatif saja, dan tidak dimaksudkan sebagai pegangan serta keputusan dalam investasi atau jenis transaksi lainnya. Kami tidak bertanggung jawab atas segala akibat yang timbul dari penyajian konten tersebut. Semua pihak yang mengunjungi website ini harus membaca Terms of Service (Syarat dan Ketentuan Layanan) terlebih dahulu dan dihimbau untuk melakukan analisis secara independen serta memperoleh saran dari para ahli dibidangnya.