Oil rises as Saudi Arabia backs producers to stick with supply cuts
Traders regard concerns about the health of the global economy and its impact on fuel demand as hurdles to oil market sentiment
10 June 2019 - 07:44
Singapore — Oil prices rose on Monday after Saudi Arabia said producer club Opec and Russia should keep supplies restricted at current levels, and in relief that the US withdrew a tariff threat against Mexico, removing a cloud over the global economy.
Despite Monday’s increases, traders said concerns about the health of the global economy and its impact on fuel demand still weigh on oil market sentiment...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.