Oil stable as OPEC says it is committed to rebalance markets

Oil stable as OPEC says it is committed to rebalance markets

Brent crude futures were at $54.92 per barrel at 0741 GMT, close to its last close.

US West Texas Intermediate (WTI) crude futures were also almost unchanged at $52.43 a barrel.

Traders said prices were supported by the Organization of the Petroleum Exporting Countries (OPEC) secretary general, who said the group was committed to restoring market stability by bringing global inventories down to the industry’s five-year average. Read More…

Credit By : The Hindu Business Line

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