Oil Rises After US Missile Strike In Syria, Weekly Gain 3%
"The production outages in Canada will ... continue to have a price-supportive effect," said Carsten Fritsch, commodities analyst at Commerzbank.
In bearish news, non-OPEC producer Kazakhstan raised production last month despite its pledge to cut output by 20,000 barrels per day in the first half of 2017.
Preliminary government data showed a 2 percent month-on-month rise in March.
(Additional reporting by Henning Gloystein in Singapore and Karolin Schaps in London, editing by David Evans and David Gregorio)
View Full Article
WHAT DO YOU THINK?
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
- Weatherford CEO's Rebound Plan Relies On Getting Smaller
- Iran Says Oil Market Is Too Tight For US Zero Exports Target
- China's Squeezed 'Teapots' Eye Petchem Path To Riches
- Baker Hughes: US Drillers Add Oil Rigs For Second Week In Three
- Venezuela Hands China More Oil Presence, But No Mention Of New Funds