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Friday, January 19, 2024

Oil price update: OPEC releases monthly report, Crude Oil prices rise

By Vijay Valecha in 'Century in News'

Oil price update: OPEC releases monthly report,...
 
   

Vijay Valecha, Oil & Gas, Middle East, Jan 19, 2024

Oil prices witnessed significant changes over the week. Here's a look at the current trends, major industry news and everything the OPEC report had to say about the changes.

Oil prices exhibited contrasting trends as U.S. oil prices rose and Brent prices dropped. The rise in U.S. prices has been attributed to the dollar seeing a reduction in its earlier gains.

Oil futures ended on a mixed note, on Wednesday, 17 January, with U.S. crude prices finishing higher as the dollar pared its earlier gains, while global benchmark oil prices were down for the session as some traders showed concerns over the energy-demand outlook, according to Vijay Valecha, Chief Investment Officer at Century Financial.

Source:

Oil & Gas, Middle East