Oil prices on track for first weekly rise in two months
Friday, 15 December 2023 Oil prices rose as bullish forecast on oil demand for next year from the International Energy Agency (IEA) and a weaker dollar boosted prices. Brent futures reached USD 76.70 per barrel while US West Texas Intermediate (WTI) crude climbed to USD 71.68. The US Federal Reserve's mid-week announcement of likely borrowing cost cuts next year further lifted prices. The dollar fell to a four-month low after indications that interest rate hikes have likely ended. The European Central Bank reaffirmed record high borrowing costs despite lower inflation expectations.
Initially, concerns about the impact of the Israel-Hamas conflict on the global economy were dismissed, as nearby oil-exporting regions continued their production without disruption. Despite efforts by..
US Setting Historic , Oil Production Record.
A recent report revealed that the United States
is currently on track to produce more oil
than any other country in history. .
CNN reports that the news..
Credit: Wibbitz Top Stories Duration: 01:31Published
Potential 2024 OPEC , Production Cuts Cause , Brief Spike in Oil Prices.
On December 5, oil prices briefly
spiked after Russia suggested
continued OPEC production cuts in 2024.
Markets Insider..
Credit: Wibbitz Top Stories Duration: 01:31Published
Friday, 15 December 2023
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![US Setting Historic Oil Production Record [Video]](https://video.newsserve.net/300/v/20231222/1362575548-US-Setting-Historic-Oil-Production-Record.jpg)
![Potential 2024 OPEC Production Cuts Cause Brief Spike in Oil Prices [Video]](https://video.newsserve.net/300/v/20231205/1361679330-Potential-2024-OPEC-Production-Cuts-Cause-Brief-Spike.jpg)
