Oil stronger as virus boosts Opec case for output cuts
Production may be reined in as early as February after bloc’s forecast was lowered on Wednesday
13 February 2020 - 08:30
Seoul — Oil prices rose for a third day on expectations that major producers are likely to enact deeper output cuts to offset the slump in demand caused by the coronavirus outbreak in China, the world’s second-largest crude consumer.
Brent crude rose 17c, or 0.3%, to $55.96 per barrel at 0217 GMT. US West Texas Intermediate (WTI) rose 29c, or 0.6%, to $51.46 a barrel...
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.