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Oil prices rise on tight supply, inventory uncertainty

The Edge Markets LogoThe Edge Markets1 mo ago

Oil prices rise on tight supply, inventory uncertainty

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However, the group has struggled to hit the monthly increase targets due to underinvestment in oilfields by some OPEC members and, more recently, losses in Russian output.

Official weekly estimates for US oil inventories were scheduled to be released on Thursday but technical problems will delay those figures until next week, the US Energy Information Administration said, without giving a specific timeline.

(June 24): Oil prices rose slightly in early Asian trade on Friday (June 24) as nations seek to address global crude oil and fuel supply tightness.


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Article Details

Category: InvestingFinance

Topics: August Opec (june Barrel Plan Cents Crude Output Global Prices Rose

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-06-24, 03:04:50

News Timezone: GMT +8:00

News Source URL: theedgemarkets.com

Language: English

Reading Time: 2 minutes read

Article Length: 259 words

Coverage Area: Malaysia

Availability: Desktop Web, Mobile Web

News ID: 6962

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About The Edge Markets

The Edge Markets Logo

Main Topics: InvestingFinance

Official Website: theedgemarkets.com

Update Frequency: 109 posts per day

Year Established: 1994

Headquarters: Malaysia

News Last Updated: 8h ago

Coverage Areas: Malaysia

Ownership: Independent Company

Publication Timezone: GMT +8:00

News Language: English

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Publisher ID: #17

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