Oil Posts Best Run Since 2019 as OPEC+ Cuts to Tighten Market

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(Bloomberg) -- Oil held gains after capping the longest winning run in more than four years as OPEC+ leaders extended supply cuts to the end of 2023 and industry estimates pointed to another draw in US crude inventories.Most Read from BloombergIndia’s Moment Has Arrived, and Modi Wants a New Global OrderStocks Retreat After Hot ISM Fuels Fed-Hike Wagers: Markets WrapFed Set to Double Its Economic Growth Forecast After Strong US DataSoaring US Dollar Raises Alarm as China, Japan Escalate FX Pushb

Energy major ExxonMobil sees China as a strong long-term growth market for liquefied natural gas despite a recent slowdown in demand there and is looking at potential downstream opportunities in the country, an executive said on Wednesday. "We are talking about different downstream market opportunities and also investments in the downstream in China," Andrew Barry, vice president global LNG marketing at the U.S.

Most Read from BloombergIndia’s Moment Has Arrived, and Modi Wants a New Global OrderStocks Retreat After Hot ISM Fuels Fed-Hike Wagers: Markets WrapFed Set to Double Its Economic Growth Forecast After Strong US DataSoaring US Dollar Raises Alarm as China, Japan Escalate FX PushbackChina Slowdown Means It May Never Overtake USGroup of 20 nations have increased per capita emissions nearly 7% from coal-fired power since 2015, with China and India adding new plants, and Australia's CO2 count...

 

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Oil Posts Best Run Since 2019 as OPEC+ Cuts to Tighten MarketOil held gains after capping the longest winning run in more than four years as OPEC+ leaders extended supply cuts to the end of 2023 and industry estimates pointed to another draw in US crude inventories.
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