Oil edges up as OPEC sees relatively strong growth in 2024 oil demand
==========
Oil prices edged slightly higher as OPEC maintained its forecast for relatively strong growth in global oil demand in 2024. Brent crude futures rose 0.6% to $82.11 a barrel, while U.S. West Texas Intermediate (WTI) crude futures gained 0.6% to $78.15. OPEC and allies agreed to extend deep oil output cuts into 2025. The World Bank lifted its 2024 global growth outlook slightly, but warned that overall output would remain below pre-pandemic levels through 2026. The release of U.S. consumer prices data for May and the conclusion of the Federal Reserve's policy meeting are scheduled for Wednesday. Traders are cautious ahead of the release of macroeconomic data from China on Wednesday, as China's inflation data could impact oil prices. Saudi crude exports to China fell for a third straight month. U.S. crude oil stockpiles were expected to have fallen by 1.8 million barrels in the week to June 7.
#Oil #Opec #GlobalDemand #BrentCrude #WestTexasIntermediate #OutputCuts #WorldBank #FederalReserve #UsConsumerPrices #China #SaudiCrudeExports #UsCrudeOilStockpiles
https://finance.yahoo.com/news/oil-prices-extend-rally-potential-005920418.html
Yahoo Finance /
npub1j0e…3yhd
2024-06-11 19:18:16
Author Public Key
npub1j0e6zhr82q4par2f4ecr67zvj0ltv8qgqr8v3llw2ed6qvdrm4fs9s3yhdPublished at
2024-06-11 19:18:16Event JSON
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"content": "Oil edges up as OPEC sees relatively strong growth in 2024 oil demand\n==========\n\nOil prices edged slightly higher as OPEC maintained its forecast for relatively strong growth in global oil demand in 2024. Brent crude futures rose 0.6% to $82.11 a barrel, while U.S. West Texas Intermediate (WTI) crude futures gained 0.6% to $78.15. OPEC and allies agreed to extend deep oil output cuts into 2025. The World Bank lifted its 2024 global growth outlook slightly, but warned that overall output would remain below pre-pandemic levels through 2026. The release of U.S. consumer prices data for May and the conclusion of the Federal Reserve's policy meeting are scheduled for Wednesday. Traders are cautious ahead of the release of macroeconomic data from China on Wednesday, as China's inflation data could impact oil prices. Saudi crude exports to China fell for a third straight month. U.S. crude oil stockpiles were expected to have fallen by 1.8 million barrels in the week to June 7.\n\n#Oil #Opec #GlobalDemand #BrentCrude #WestTexasIntermediate #OutputCuts #WorldBank #FederalReserve #UsConsumerPrices #China #SaudiCrudeExports #UsCrudeOilStockpiles\n\nhttps://finance.yahoo.com/news/oil-prices-extend-rally-potential-005920418.html",
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