Economic news

Oil prices remain firm as OPEC meeting approaches

Oil firmed today as awaited by many OPEC gathering is to be held shortly, where a decision may be taken to expand global supplies, and as investors estimated the damage that could be inflicted by a potential U.S.-China trade war.

Photo: Reuters

U.S. West Texas Intermediate dipped to the lowest in two months of $63.59 per barrel, though later it bounced back to $64.76, still 30 cents less compared to the previous settlement. At the same time North Sea Brent grew by 60 cents, coming up to $74.04 for a barrel.

A month ago Brent broke through $80, a record high in 3 years and a half, but afterwards slid as Saudi Arabia and Russia considered raising production.

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