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Oilprice — Oil Soars As OPEC+ Sources Suggest No Production Increase

Summary:
The U.S. oil benchmark, WTI Crude, jumped early on Thursday to above a barrel, soaring by more than 5 percent, after OPEC+ sources began telling reporters that the coalition may be close to agreeing not to increase their collective oil production in April. WTI Crude prices were surging by 5.06% at .21 as of 11:18 a.m. ET on Thursday. Brent Crude prices jumped above per barrel, to .17, up by 5.10%, after OPEC+ sources started to leak insights from the ongoing OPEC+ ministerial meeting.…OilpriceOil Soars As OPEC+ Sources Suggest No Production IncreaseTsvetana ParaskovaSee also at OilpriceResource Nationalism Becomes Major Threat For Oil Companies, Miners

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The U.S. oil benchmark, WTI Crude, jumped early on Thursday to above $64 a barrel, soaring by more than 5 percent, after OPEC+ sources began telling reporters that the coalition may be close to agreeing not to increase their collective oil production in April. WTI Crude prices were surging by 5.06% at $64.21 as of 11:18 a.m. ET on Thursday. Brent Crude prices jumped above $67 per barrel, to $67.17, up by 5.10%, after OPEC+ sources started to leak insights from the ongoing OPEC+ ministerial meeting.…
Oilprice
Oil Soars As OPEC+ Sources Suggest No Production Increase
Tsvetana Paraskova

See also at Oilprice

Resource Nationalism Becomes Major Threat For Oil Companies, Miners

Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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