Oil Prices Climb on OPEC Data and a Strong U.S. Economy ...Middle East

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Oil Prices Climb on OPEC Data and a Strong U.S. Economy
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Crude oil prices moved higher today, after the release of production data from OPEC and Russia, showing both declined in December. An additional bullish factor for oil was a new employment survey from the United States, which showed layoffs were low and job openings were growing, suggesting a strong economy. At the time of writing, Brent crude was trading at $77.34 per barrel, and West Texas Intermediate was changing hands for $74.65 per barrel, both up from opening. “Robust U.S. economic data continues to bolster the outlook for the U.S.…

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