Economy

Oil prices rise on optimism OPEC+ meeting will result in supply cut



Oil prices rose on Thursday on expectations the world’s largest oil producers would agree to cut production at a meeting later in the day as the industry grapples with a coronavirus-driven collapse in global oil demand.

 

Brent crude LCOc1 futures rose 1.2%, or 41 cents, to $33.25 a barrel as of 0529 GMT. The contract rose to an intra-day high of $33.90, climbing for a second day.


U.S. West Texas Intermediate (WTI) crude CLc1 futures were up 3.3%, or 82 cents, at $25.91 a barrel, after earlier climbing by as much as 6.1%.


The Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia - a group known as OPEC+ - are set to convene a video conference meeting on Thursday.


The meeting is expected t...
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Commemoration of 3 Kurdish activists shot in Paris


Thursday, Kurds saluted the seventh anniversary of the assassination of 3 Kurdish women activists in France.

 

The crime took place on January 9, 2013, targeting 3 female Kurdi...


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Quarantined citizen in Sulaymaniyah: services provided are impossible for major countries


One of the citizens inside a quarantine center in the city of Sulaymaniyah said that what the medical and administrative staff provide is not possible for major countries to provide, and that the q...


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‘Wash Our Hands? Some People Can’t Wash Their Kids for a Week.’


In northwestern Syria, where a million people who have fled the civil war are sheltering in muddy tent camps and abandoned buildings, the spread of the coronavirus could wreak untold disaster on a ...


»  Postponement of burial ceremonies for Kojo mass graves victims
»  Consultations begin to choose new Iraqi PM

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