Off the wire
• Italian leaders busy with discussion on transitional gov't for future  • 13 killed after bus tumbles down cliff in Bolivia  • Gold falls on ECB decision, stronger U.S. dollar  • U.S. dollar rallies against euro on ECB decision  • Trump talks with Finnish president on telephone  • U.S., Russia to continue talk on Syria ceasefire: U.S. State Department  • U.S. stocks end at record highs after ECB decision  • First American in orbit John Glenn dies  • U.S. Senate sends defense policy bill against closing Guantanomo Bay facility to lame-duck Obama bill to Obama with  • Roundup: Greek PM announces relief measures for low income pensioners, islanders at forefront of refugee crisis  
You are here: 　 Home

Oil prices increase amid market optimism over output reduction

Xinhua, December 9, 2016 Adjust font size:

Oil prices increased on Thursday as market becomes optimistic that the Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC producers can keep their output cut promise.

Investor now focused on an upcoming weekend meeting between OPEC and non-OPEC producers that may result in an agreement to cut crude output further. Analysts said it looked like the market was quite optimistic about the coming result.

The West Texas Intermediate for January Delivery increased 1.07 U.S. dollars to settle at 50.84 dollars a barrel on the New York Mercantile Exchange, while Brent crude for February delivery added 0.89 dollars to close at 53.89 dollars a barrel on the London ICE Futures Exchange. Enditem