Energy

Oil falls after White House says OPEC should boost production to support the economic recovery

0


The OPEC logo pictured ahead of an informal meeting between members of the Organization of the Petroleum Exporting Countries (OPEC) in Algiers, Algeria.

Ramzi Boudina | Reuters

Oil prices fell on Wednesday after the White House called on OPEC and its allies to increase oil production to support the global recovery from the pandemic.

Futures contracts for West Texas Intermediate crude fell by more than 1% to about $67.51 per barrel. European benchmark Brent crude also slipped by more than 1% to about $69.90 per barrel. Both contracts have traded above $70 per barrel in recent weeks.

Oil prices moved lower on Wednesday after CNBC reported that the White House said that OPEC+ needs to increase…



Source cnbc.com

0 0 votes
Article Rating

Deliveroo doubles orders in first half of 2021

Previous article

Weekly mortgage demand hints at return of the first-time homebuyer

Next article

You may also like

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments

More in Energy