Oil prices stable as shale output and US Crude inventories rise

News Image

By MG News | December 07, 2017 at 01:07 PM GMT+05:00

0:00

Oil prices remained stable on Thursday as a fall in US Crude stocks were countered by a rise in output and an increase in stocks.

U.S. West Texas Intermediate (WTI) crude futures were at $55.95 a barrel at 0658 GMT, virtually unchanged from their last settlement.

\"\"

Brent crude futures, the international benchmark for oil prices, were at $61.29 a barrel, up 7 cents.

\"\"

The rising output has put OPEC plans to normalize oil prices in jeopardy. Oil prices have been historically down in the last few years as output for the crude increased manifolds that brought down the prices of oil in international markets. US Shale producers have informed that they plan to ramp up the production after OPEC announced extension in the cuts.  

Related News

Name Price/Vol %Chg/NChg
KSE100 133,226.03
102.55M
-0.11%
-144.12
ALLSHR 82,999.08
376.68M
-0.10%
-82.07
KSE30 40,624.02
33.84M
-0.20%
-81.28
KMI30 192,181.21
43.08M
-0.21%
-399.47
KMIALLSHR 55,790.00
214.22M
-0.08%
-45.72
BKTi 36,253.86
5.54M
-0.17%
-63.31
OGTi 28,449.84
2.99M
-0.33%
-93.12
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 108,580.00 108,880.00
107,680.00
125.00
0.12%
BRENT CRUDE 69.44 69.50
69.03
-0.14
-0.20%
RICHARDS BAY COAL MONTHLY 97.50 0.00
0.00
2.90
3.07%
ROTTERDAM COAL MONTHLY 106.00 106.75
106.00
0.25
0.24%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 67.77 67.97
67.40
-0.16
-0.24%
SUGAR #11 WORLD 16.25 16.46
16.07
-0.13
-0.79%

Chart of the Day


Latest News
July 08, 2025 at 10:42 AM GMT+05:00

Pakistan moves to regulate crypto with PVARA approval


July 08, 2025 at 09:41 AM GMT+05:00

DFML assembles over 300 EVs for delivery


July 08, 2025 at 09:31 AM GMT+05:00

NBP issues foreign exchange rates



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg