Oil rises Wednesday as IEA sees higher oil demand, shrinking inventories
By Fanny Potkin
Petroleumworld 09 13 2017
Oil prices rose on Wednesday after the International Energy Agency (IEA) said the global oil surplus was starting to shrink due to robust global demand and an output drop from OPEC and other producers.
By 1021 GMT, international benchmark Brent crude LCOc1 was up 27 cents, or 0.5 percent, at $54.54 a barrel.
U.S. West Texas Intermediate (WTI) CLc1 was up 38 cents, or 0.8 percent, at $48.61 a barrel.
“Based on recent bets made by investors, expectations are that markets are tightening and that prices will rise, albeit very modestly,” the IEA, which coordinates energy policies in industrialised nations, said in its monthly report.
Story by Fanny Potki from Reuters.
09 13 2017 11:34BST
We invite all our readers to share with us
their views and comments about this article.
Write to email@example.com
By using this link, you agree to allow PW
to publish your comments on our letters page.
Any question or suggestions,
please write to: firstname.lastname@example.org
Best Viewed with IE 5.01+ Windows NT 4.0, '95,
'98,ME,XP, Vista, Windows 7,8,10 +/ 800x600 pixels
Nov 13-14 ;
Mexico City, Mexico