Oil rises on lower US stocks, firmer demand

"We need to see more signs that rebalancing is taking place, primarily through more demand," said Gene McGillian, director of market research at Tradition Energy.

Production in North Dakota has already fallen more than half a million barrels per day and has, along with cuts in Texas and elsewhere, helped support prices. US petrol and distillate inventories rose last week, data showed, as demand slipped. Weak crude refining profits could delay a recovery in demand.

good news for oil companies and oil stock holders. Better news for the world.

Brasil Últimas Notícias, Brasil Manchetes

Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.

Few US oil and gas firms return small-business COVID-19 loansUS securities filings show that only three of 12 listed oil and gas companies that received emergency government aid made available for small ...
Fonte: ChannelNewsAsia - 🏆 6. / 66 Consulte Mais informação »

Trump to tap new company to make Covid-19 drugs in the USWASHINGTON (NYTIMES) - The Trump administration will announce Tuesday (May 19) that it has signed a US$354 million (S$502 million) four-year contract with a new company in Richmond, Virginia, to manufacture generic medicines and pharmaceutical ingredients that are needed to treat Covid-19 but are now made overseas, mostly in India and China.. Read more at straitstimes.com.
Fonte: The Straits Times - 🏆 8. / 63 Consulte Mais informação »