NIFTY 50
Powered by:

Oil hovers near 2019 highs amid OPEC cuts, but economic slowdown weighs

Updated : February 21, 2019 01:51 PM IST

US West Texas Intermediate (WTI) crude oil futures were at $57.39 per barrel at 0742 GMT, 23 cents, or 0.4 percent, above their last settlement, and close to their 2019 high of $57.55 reached the previous day.
International Brent crude futures were at $67.20 per barrel, 12 cents, or 0.2 percent above their last close and not far off their 2019 peak, hit the day before, of $67.38 per barrel.
The main factor keeping oil prices from rising even further is soaring US oil production, which rose by more than 2 million bpd last year, to a record 11.9 million bpd.
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