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Oil rises supported by optimism about trade tensions

2019-08-16 09:14 am | Resource: News | No Views : 51

 Oil rises  supported by optimism about trade tensions

Oil prices rose on Friday as recession fears eased somewhat after better-than-expected US retail sales figures. Supported by optimism about trade tensions between the US and China. US President Donald Trump said he would make a phone call soon with his Chinese counterpart, Xi Jinping, after Beijing pledged to respond to US tariffs.

 Nigeria aims to increase its oil production to 3 million barrels per day by 2023

In other news, Nigeria's state-owned oil company said on Thursday it aimed to raise its oil production to 3 million barrels per day (bpd) by 2023. To have strategic partnerships and new investments in upstream operations to reach this target level of production.

Release of the Iranian oil tanker

Meanwhile, the Iranian tanker seized in Gibraltar is scheduled to leave Friday, with a government official saying the tanker is able to leave as soon as it organizes the necessary logistics to sail on a ship of this size. "It could be today, it could be tomorrow."

The shift was captured by British Royal Commandos in the dark in the western part of the Mediterranean on July 4 on suspicion of violating EU sanctions by transporting oil to Syria, a close ally of Iran. The US State Department said the ship was helping the Iranian Islamic Revolutionary Guard Corps (IRGC), which Washington described as a terrorist organization.

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Best Opportunities, Vision and Technical Analysis for The Oil 17 April 2019

(CURDE OIL - WTI ) We offer you oil analysis denominated by US dollar on Wednesday, April 17, 2019, with the most important forecast for the price of oil denominated by US dollars in the market. Time frame Used - four hours Oil is moving in a sideway direction in the near term. The purchasing power managed to push oil higher to close at the end of trading today, rising…

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