Commodity Trade Mantra

Posts Tagged ‘Rig Count Report’

OPEC Rumours Continue To Pull Oil Prices Higher

Oil prices hit one a month high on Monday thanks to speculation about potential producer curbs on supply and new data from market intelligence firm Genscape showing an estimated draw of more than 350,000 barrels per day at the Cushing OK delivery point. Although oil prices reacted stoically on last week’s rig count report, the amount of rigs added to the Permian basin is starting to add up.

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