Oil prices rise as Opec forecasts a supply deficit in 2020
Prices were also supported by the US Fed keeping interest rates unchanged and an unexpected rise in US petroleum product stocks
12 December 2019 - 14:20
London/Tokyo — Oil prices rose on Thursday, recouping some of the previous session’s losses after oil cartel Opec forecast a supply deficit in 2020 and the US Federal Reserve said the economic outlook is favourable.
Prices had fallen on Wednesday after a report showed an unexpected increase in US crude inventories. The market picked up on Thursday, although the International Energy Agency (IEA) and Opec offered different prospects for the oil market in 2020...
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