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Thursday, 02 May 2024

O Oil & Gas Market

Russia/Arabia Agreement Boosts Mexican Oil Prices

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The Mexican blend started the week with a gain of 2.94% or $ 1.32 compared to Friday's closing price, trading at the international energy market at $ 44.84 a barrel, PEMEX (Petroleos Mexicanos) reported.

The price of intermediate oil Texas (WTI) gained 2.05% and closed at 48.82 dollars a barrel.

While the Brent oil barrel for July delivery closed today on the London future market at $51.81, up 1.82% more than at the end of the previous session.

Oil prices rebounded after Russia and Saudi Arabia, the world's two biggest producers, have been in favor of extending production cuts agreed in late 2016 to March 2018.


Written by Daniel Hau

Global Energy Insight, established in 2017, as an independent online journal focused on offering Global coverage of up-to-date news and technological advances