Monday 29 May 2017

Oil prices stay weak as US drilling undermines drive to tighten markets

[SINGAPORE] Oil costs stayed feeble on Monday as a tenacious ascent in US penetrating undermined an Opec-drove push to fix supply. 

Brent rough fates were exchanging at US$52.10 per barrel at 0150 GMT, down 5 pennies from their last close. 

US West Texas Intermediate (WTI) rough fates stayed beneath US$50, down 8 pennies at US$49.72. 

The Organization of the Petroleum Exporting Countries and some non-Opec makers concurred a week ago to extend a vow to cut creation by around 1.8 million barrels for each day (bpd) until the finish of the principal quarter of 2018. Be that as it may, the choice did not go the extent that numerous speculators had trusted. 



An underlying assention, which has been set up since January, would have terminated in June this year.

For more gold updates, traders could visit here:

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