CANBERA (dpa-AFX) - The Canadian dollar appreciated against its major opponents during the European session on Wednesday, as oil prices rose on strong demand outlook and on the OPEC+ decision to
Oil extends gains on OPEC+ supply discipline rte.ie - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from rte.ie Daily Mail and Mail on Sunday newspapers.
Iran's president Hassan Rouhani that nuclear talks in Vienna with world powers would soon reach a successful conclusion, while diplomats say key issues remain.
OPEC+ signs off on July increase as market tightens Published: June 01, 2021 18:22 Bloomberg OPEC Image Credit: Reuters
The group will press ahead with an increase of 841,000 barrels a day in July, following hikes in May and June, according to delegates. As the market tightens, a more difficult decision looms for the group as it tackles the deficit that s set to emerge later this year. The demand picture has shown clear signs of improvement, Saudi Energy Minister Prince Abdulaziz bin Salman said as the meeting started. Russia s Alexander Novak also spoke of the gradual economic recovery.
OPEC and its allies have spent more than a year rescuing prices from historic lows and only cautiously adding supply. Now the story is shifting: oil prices above $71 are fueling inflation concerns and if OPEC doesn t add more oil, there s a risk the market becomes too tight, undermining the global recovery.