Oil Prices Are On A Six-Week Winning Streak ...Middle East

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Oil Prices Are On A Six-Week Winning Streak
source : OILPRICE ( Middle East ) () 25
Crude oil prices were set for yet another weekly gain after Saudi Arabia said it would extend its voluntary production cuts of 1 million bpd into September. The Kingdom added fuel to the rally by suggesting it could extend them beyond September, too, or deepen the cuts, or combined both an extension and deeper cuts. Prices got an additional boost this week from the American Petroleum Institute and the Energy Information Administration, which both estimated the most significant drawdown in U.S. oil inventories in years for the last week…

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