Oil market is balanced, says Qatar energy minister
Sun Oct 07 2018
Lucy Harlow (1621 articles)

Oil market is balanced, says Qatar energy minister

DUBAI (Reuters) – The oil market is balanced in terms of supply and demand, Qatar’s Energy Minister Mohammed al-Sada said on Sunday.

“Geopolitical changes” are the reason for the recent rise in crude prices, the state-run Qatar News Agency quoted him as saying.

“There are developments in the oil market including supply and the increase in global demand, and these considerations will be taken into account at the next meeting of OPEC (the Organization of the Petroleum Exporting Countries),” he said.

Oil prices have been rising as U.S. sanctions against Iran’s crude exports are set to start next month. Brent crude is trading at nearly $ 85 a barrel, compared to $ 65 at the beginning of the year.


Copyright (2018) © LiveIndex.org


Lucy Harlow

Lucy Harlow

Lucy Harlow is a senior Correspondent who has been reporting about Commodities, Currencies, Bonds etc across the globe for last 10 years. She reports from New York and tracks daily movement of various indices across the Globe

Comments