Oil steady on Opec supply cuts, despite poor global economy
US crude inventories fell last week, as the markets await the outcome of the US Fed summit regarding rate cuts
22 August 2019 - 12:05
London — Oil steadied above $60 a barrel on Thursday, supported by a drop in US crude inventories and oil cartel Opec-led supply cuts, although worries about the global economy weighed.
US crude inventories fell by 2.7-million barrels last week, more than analysts expected. Still, the US Energy Information Administration also said petrol and distillate inventories rose...
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