Oil gains as Saudi stands by OPEC cuts, U.S. drilling drops
Posted: Mon Mar 11, 2019 8:42 am
Reuters - 3/10/2019 - Noah Browning - Oil prices rose on Monday, lifted by comments from Saudi Energy Minister Khalid al-Falih that an end to OPEC-led supply cuts was unlikely before June and a report showing a fall in U.S. drilling activity. U.S. West Texas Intermediate (WTI) crude oil futures were at $56.73 per barrel at 1320 GMT, up 66 cents, or 1.18 percent from their last close. Brent crude futures were at $66.49 per barrel, up 75 cents, or 1.14 percent. Falih told Reuters on Sunday it would be too early to change a production curb pact agreed by the Organization of the Petroleum Exporting Countries and allies including Russia before the group’s meeting in June. Read more @ https://www.reuters.com/article/us-glob ... QS01N?il=0