Tag: OIL SLIPS

Oil slips away from 2019 highs as surging U.S. supply undermines OPEC cuts

Feb 20, 2019

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by

Kehinde Ajose

in News, World

Oil prices slipped away from 2019 highs on Wednesday, with surging U.S. supply and slowing economic growth tempering upward pressure from supply cuts led by producer club OPEC and from Washington’s sanctions on Iran and Venezuela. U.S. West Texas Intermediate (WTI) crude oil futures hit 2019 highs of 56.39 dollars per barrel on Wednesday but…