DJIA39807.37
LIVE47.29(0.12%)
NDX18254.69
LIVE-26.15(-0.14%)

Oil Prices Fall as Saudi Quickly Restore Output; API Reports Rising Stockpiles


Wednesday, 18 September 2019 12:37 WIB

MinyakWTIBrentMinyak MentahOil,


Oil prices fell on Wednesday in Asia after Saudi Arabia's energy minister said the kingdom is recovering faster-than-expected from an attack on the weekend that knocked out 5% of global oil output.

U.S. Crude Oil WTI Futures were down 0.4% to $58.87 by 12:30 AM ET (04:30 GMT). International Brent Oil Futures fell 0.2% to $64.44.

Saudi Energy Minister Prince Abdulaziz bin Salman said in a press conference overnight that the kingdom will restore lost oil production by the end of September.

Average oil production in September and October would be 9.89 million barrels per day, he said, adding that Saudi would ensure full oil supply commitments to its customers this month.

Meanwhile, State-owned Aramco CEO Amin Nassser said full capacity of 12 million barrels per day would be back at the end of November.

Source : Investing.com


RELATED NEWS

  • US crude futures post their ninth straight session of price increases, ending up 1% at $87.54 a barrel, which is the highest closing price since Nov. 11, 2022. Analysts attribute the gains to announc...

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.