Oil prices rise as U.S. crude production is seen growing more slowly this year
Publishing timestamp: 2024-02-07 12:48:17
Summary
Crude oil futures rose for the third day as U.S. production is expected to grow less than expected, easing concerns of oversupply. However, there are worries about the oversupply in the market due to China's softening economy and crude demand. Occidental Petroleum CEO predicts a major shortage by the end of 2025. The market is also monitoring developments in the Middle East.
Sentiment: MIXED
Keywords: united states, antony blinken, politics, wti crude (mar'23), business news, ice brent crude (apr'23), occidental petroleum corp,
Source: https://www.cnbc.com/2024/02/07/oil-prices-today.html