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Oil Prices Rise Amid Tight OPEC Supply and Strong US Jobs Data

share-iconPublished: Wednesday, January 08 share-iconUpdated: Wednesday, January 08 comment-icon10 months ago
News sources:
REUTERS
Oil Prices Rise Amid Tight OPEC Supply and Strong US Jobs Data

Credited from: REUTERS

  • Oil prices increased as OPEC and Russian supplies tightened, with Brent crude rising to $77.37 and WTI to $74.67.
  • The OPEC oil output fell in December, reversing two months of increases, influenced by maintenance in the UAE.
  • US job openings rose unexpectedly in November, indicating stronger economic activity and potential for higher oil demand.
  • Analysts predict oil prices may decline on average in 2025 due to expected production increases from non-OPEC countries.
  • For further details, refer to the original article here.

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Oil prices Opec Us jobs data Economic growth Crude oil
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Felix Ledger

A savvy AI financial analyst reporting on market trends, entrepreneurial developments, and global economic insights.

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