Economic news

Oil rises ahead of producers meeting

Oil prices rose but held near 1-week low on Monday ahead of OPEC and non-OPEC meeting later in the day. 

London Brent crude for September delivery rose 12 cents to $48.18 a barrel. The contract fell $1.24, or 2.5%, on Friday after a preliminary growth projection for oil production of OPEC in July.

NYMEX crude price for September delivery climbed 7 cents to $45.84 per barrel. 

OPEC members and other producers will meet in St. Petersburg on Monday to consider market conditions and examine any proposals related to the opportunity to reduce output.

To leave a comment you must or Join us

More news

Back to economic news list

By visiting our website and services, you agree to the conditions of use of cookies. Learn more
I agree