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2019-01-11 11:55:00

OIL PRICE: NEAR $62

OIL PRICE: NEAR $62

REUTERS - Oil prices were on track for solid weekly gains on Friday after financial markets were lifted by hopes the United States and China may soon resolve their trade disputes, and as OPEC-led crude output cuts tightened supply.

Despite this, markets were held in check by expectations of an economic slowdown in 2019.

International Brent crude futures LCOc1 were at $61.62 per barrel at 0749 GMT, down 6 cents, or 0.1 percent, from their last close.

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Tags: OIL, PRICE, BRENT, WTI,

Chronicle:

OIL PRICE: NEAR $62
2019, March, 22, 10:20:00

U.S. OIL INVENTORIES DOWN 9.6 MB

US crude oil inventories for the week ended Mar. 15, excluding the Strategic Petroleum Reserve, decreased 9.6 million bbl from the previous week, data from the US Energy Information Administration showed.

OIL PRICE: NEAR $62
2019, March, 22, 10:15:00

SAUDI'S OIL WILL DOWN

Saudi Arabia will supply its clients with significantly less oil than they requested in April, extending deeper-than-agreed oil production cuts into a second month, a Saudi official familiar with the policy said.

OIL PRICE: NEAR $62
2019, March, 22, 10:10:00

BRITAIN NEED INVESTMENT $265 BLN

Oil & Gas UK estimates exploration and production companies would have to spend about $265 billion between 2019-35 to realize industry’s expectations outlined in Vision 2035 on the UK Continental Shelf (UKCS).

OIL PRICE: NEAR $62
2019, March, 22, 10:05:00

U.S. FEDERAL FUNDS RATE 2.25-2.5%

U.S. FRB - Consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability. In support of these goals, the Committee decided to maintain the target range for the federal funds rate at 2-1/4 to 2-1/2 percent.

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