REUTERS – Oil near June 2015 high as production cuts tighten market
Oil near June 2015 high as production cuts tighten market
Contributed by NAMPA / Reuters.
* Prices supported by OPEC/Russia led production cuts
* But expected end to Forties pipeline closure caps gains
* U.S. output approaching 10 mln bpd undermines cuts
By Henning Gloystein
SINGAPORE, Dec 26 (Reuters) – Oil prices were stable on
Tuesday, with Brent crude lingering near 2015 highs on the back
of an outlook for healthy demand amid ongoing production cuts
led by OPEC and Russia.
U.S. West Texas Intermediate (WTI) crude futures were
at $58.50 a …