Oil prices edge up on geopolitical tensions, Opec+ supply plans

Quick Summary:

OIL prices firmed on Wednesday as market participants weighed up geopolitical tensions and the prospect of OPEC+ extending supply cuts against weaker demand.

"Weaker demand signals from mainland China are raising concerns about demand in the oil market ...

Global oil demand is only expected to lift about 1 million bpd as China's oil demand is expected to remain subdued".

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Article Details

Category: EconomyBusiness

Markets: MalaysiaAustraliaBrazilCanadaChinaGuyanaIsraelSouth KoreaLebanon

Topics: WTI /Business/Business News Opec Crude Commodities Oil Brent Petroleum

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-04 @ 13:30:00 (21 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 504 words

Reading Time: 3 minutes read

Sentences: 21 lines

Sentence Length: 24 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Star

News ID: 24112487

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Main Topics: EconomyBusiness

Official Website: thestar.com.my

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