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Oil Holds Decline as Investors Digest Moscow’s Message on OPEC+
Oil was steady after falling more than 3% on Thursday as Russia suggested OPEC+ wasn’t likely to change production levels at its next meeting, and investors tracked negotiations to avoid a US default. West Texas Intermediate traded below $72 a barrel after Thursday’s tumble wiped out most of the week’s gains. Russia’s Deputy Prime Minister Alexander Novak said the group wasn’t likely to take further measures at the gathering in Vienna in June, undercutting earlier remarks from Saudi Energy Minister Prince Abdulaziz bin Salman that speculators should “watch out.” In the US, congressional Republicans and ... (full story)
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- Posted: May 25, 2023 10:22pm
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 67
