Oil markets were weak on Friday as fresh signs OPEC will continue to value market share over prices outweighed expectations of a lift when the United States kept interest rates at historic lows.
U.S. West Texas Intermediate (WTI) crude futures were trading at US$46.72 per barrel at 0331 GMT, down 18 cents from their last settlement. Brent prices were at US$49.12 per barrel, up 4 cents.
Kuwait, a key producer of the Organization of the Petroleum Exporting Countries (OPEC), said on Thursday the oil market would balance itself but that this would take time, indicating support for the group's policy of defending market share despite falling prices.
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U.S. West Texas Intermediate (WTI) crude futures were trading at US$46.72 per barrel at 0331 GMT, down 18 cents from their last settlement. Brent prices were at US$49.12 per barrel, up 4 cents.
Kuwait, a key producer of the Organization of the Petroleum Exporting Countries (OPEC), said on Thursday the oil market would balance itself but that this would take time, indicating support for the group's policy of defending market share despite falling prices.
For Free Signals and other KLSE online updates, click here OR Give A Missed Call : +60350219047 Follow Us On Twitter : www.twitter.com/epicresearchmy Like Us On Facebook : www.facebook.com/EpicResearchMalaysia Need Any Assistance Feel Free To Mail Us at : info@epicresearch.my
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