Oil escalates as producers to discuss production freeze
March 16, 2016 9:03 am
Crude prices climbed as producers will meet in Qatar to talk over an output cap and projections of US production deadlines.
Crude futures CLc1 closed at $36.64 a barrel, up 30 cents. Brent LCOc1 ended at $38.85 a barrel, up 11 cents. Oil increased following prices slipped around 2% the last session.
Sources at the Organization of the Petroleum Exporting Countries disclosed producers, to led by Russia and Saudi Arabia, will discuss production freeze, with or without Iran.
Producers are considering freezing output at January levels. However, Iran’s production remained low because of sanctions which lowered its output to less than 1 million barrels per day.
The material has been provided by InstaForex Company – www.instaforex.com
Crude prices climbed as producers will meet in Qatar to talk over an output cap and projections of US production deadlines.
Crude futures CLc1 closed at $36.64 a barrel, up 30 cents. Brent LCOc1 ended at $38.85 a barrel, up 11 cents. Oil increased following prices slipped around 2% the last session.
Sources at the Organization of the Petroleum Exporting Countries disclosed producers, to led by Russia and Saudi Arabia, will discuss production freeze, with or without Iran.
Producers are considering freezing output at January levels. However, Iran’s production remained low because of sanctions which lowered its output to less than 1 million barrels per day.
The material has been provided by InstaForex Company – www.instaforex.com