September 2, 2017
Oil edges up on supply cut talk
© Reuters. Oil edges up on supply cut talk
- Amid worries that energy demand would be hit hard by Hurricane Irma and its aftermath, crude prices are trading higher on Saudi oil talk.
- The world’s largest producer said it discussed the possibility of extending the supply cut between OPEC and non-OPEC members with Venezuela and Kazakhstan. The current pact is due to expire in March 2018.
- Crude futures +0.8% to $47.87/bbl.
- ETFs: USO, OIL, UWT, UCO, DWT, SCO, BNO, DBO, DTO, USL, DNO, OLO, SZO, OLEM, OILK, WTIU, OILX, WTID, USOI
- Now read: Energy Recap: Kelp Is On The Way… Maybe