 |
|
|
|
| Commodity News |
| HeadLine : |
Crude prices drift higher in Asia, supply/demand figures awaited |
| Date : |
Feb 27 2017 |
Crude price gained mildly in Asia on Monday with the market looking ahead to an update on February crude output as early as this week and new demand figures later in the month from the International Energy Agency.
Ahead this week, markets will focus on Trump's address to Congress on Tuesday for further details on his promises of tax reform, deregulation and infrastructure spending
Concerns that the ongoing rebound in U.S. shale production could derail efforts by other major producers to rebalance global oil supply and demand pressured crude prices.
OPEC and non-OPEC countries have made a strong start to lowering their oil output by almost 1.8 million barrels per day by the end of June, with compliance currently at around 90%.
Source:investing
|
|
|
News Archives:
|
|
|
|
|