After a week of swings driven by the surprise election of Donald Trump and speculation over OPEC's intentions, oil prices were back where they started.
Futures slipped 1 percent on Friday, bringing them roughly in line with their close on Nov. 4. The International Energy Agency, the Paris-based adviser to some of the world's biggest economies, said it is waiting to see whether President-elect Trump's rhetoric hardens into action before revising its market forecasts. Prices may retreat amid "relentless global supply growth" unless the Organization of Petroleum Exporting Countries goes ahead with significant production cuts, the agency said.
Already a subscriber? Log in.
Read the whole article
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.
- Access all locked articles
- Receive our daily newsletters
- Access our app
Get full access for you and your coworkers.Start a free company trial today
Your trial for EnergyWatch has now started
With your free trial you get:
Full access to all locked articles on EnergyWatch.
Daily newsletter and ongoing top-newsletters. You can unsubscribe and subscribe to our newsletters anytime.
When your trial period expires
You will not be transferred to a paid subscription.
You will continue to receive our newsletters after the trial period expires. You can unsubscribe at the bottom of each newsletter.