Motilal Oswal
  • SENSEX
    NIFTY 50
Motilal Oswal
Commodities
Powered by:

Oil pushed up by deepening OPEC supply cuts, sanctions on Venezuela

Updated : February 13, 2019 11:22 AM IST

US West Texas Intermediate (WTI) crude oil futures were at $53.66 per barrel at 0530 GMT, up 56 cents, or 1.1 percent, from their last close.
The Organisation of the Petroleum Exporting Countries (OPEC), which Saudi Arabia de-facto leads as the world’s top crude oil exporter, said on Tuesday that it had cut its output by almost 800,000 bpd in January to 30.81 million bpd.
Supply issues in Venezuela, another OPEC member, are also bolstering oil prices as the South American country suffers a political and economic crisis, with Washington introducing petroleum export sanctions against state-owned energy firm PDVSA.
primo org
Have you signed up for Primo, our daily newsletter?
It has all the stories and data on the market, business, economy and tech that you need to know.
cnbc two logos
To keep watching CNBC-TV18, India's No. 1 English Business News Channel, call your Cable or DTH Operator and subscribe now for just Rs. 4 per month. You can also subscribe to CNBC-TV18 Prime HD for Re 1/- per month.Find out more

You May Also Like

Live TV