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DECEMBER 05,2019
OPEC production reduction / inventory reduction expected, international crude oil up 4%
2019-12-05 16:30
U.S. crude oil inventories fell, and the organization of Petroleum Exporting Countries (OPEC) and its allies are expected to extend production restrictions, with crude oil rising sharply on Wednesday (December 4). The futures settlement price of West Texas light oil on New York Mercantile futures exchange in January 2020 was 58.43 US dollars per barrel, up 2.33 US dollars, up 4.2%, and the trading range was 56.28-58.66 US dollars; the futures settlement price of Brent crude oil on London Intercontinental Exchange in February 2020 was 63 US dollars per barrel, up 2.18 US dollars, up 3.6%, and the trading range was 61-63.51 US dollars.
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