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New York Oil Prices Rose On 12th, Close At $59.29 A Barrel
Feb 22, 2018

Xinhua News Agency, New York, February 12  New York oil prices rose on 12th

The monthly report released by the Organization of the Petroleum Exporting Countries (OPEC) said that due to the accelerated growth of global economic, global crude oil demand growth is expected to be faster than expected this year, but the rising of oil prices will also increase the output of the United States and other non-CDIP countries.

The report said that taking into account the various factors such as production and supply cuts, the international crude oil market is expected to resume balance in supply and demand by the end of 2018.

By the end of the day, New York Mercantile Exchange , the future price of light crude oil delivering in March rose by $0.09 and closed at $59.29 a barrel with an increase of 0.15%. the future price of London Brent crude oil delivering in April fell by $0.20 and closed at $62.59 a barrel with a drop of 0.32%.

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