US Oil Prices Close At $51.35 A Barrel, Highest For 2016
Fahad Shabbir (@FahadShabbir) Published October 11, 2016 | 12:15 AM
NEW YORK, (UrduPoint / Pakistan Point News - 11th Oct, 2016 ) - US oil prices finished at their highest level of 2016 Monday after President Vladimir Putin said Russia was ready to align with OPEC's push to limit oil output.
US benchmark West Texas Intermediate for November delivery jumped $1.54 to $51.35 a barrel on the New York Mercantile Exchange, the highest closing price since July 2015.
Putin said Russia would support the agreement in principle reached last month by the Organization of the Petroleum Exporting Countries to limit output.
OPEC is scheduled to meet in November to hash out details of the agreement. "In the current situation, we believe a freeze or a cutting of the production of oil is the only way to preserve the stability of the energy sector and accelerate a rebalancing of the market," Putin said at the World Energy Congress in Istanbul.
Related Topics
Recent Stories
Pak Vs NZ T20I: Orphaned children extended special invitation to watch match
Finance Minister lauds UNDP’s unwavering support during floods
President Raisi leaves for Iran from Karachi
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 24 April 2024
Today Gold Rate in Pakistan 24 April 2024
Punjab CM inaugurates Pakistan’s first Virtual Women Police Station
Dutch model Donny Roelvink embraces Islam
Experts raise concerns over introduction of 10-stick packs
Iranian president arrives in Karachi
Law Minister expresses Govt's resolve to address issue of missing persons
Rizwan’s batting order may be changed: Sources
Nawaz Sharif to visit Guangzhou exhibition in China
More Stories From Business
-
Foreign exchange rates
3 hours ago -
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 24 April 2024
4 hours ago -
Today Gold Rate in Pakistan 24 April 2024
4 hours ago -
Afghan trade delegation, FPCCI discuss bilateral trade
14 hours ago -
With knowledge economy, Mauritius is a stable economy: Envoy
15 hours ago -
Aurangzeb reiterates govt's resole to reduce poverty, promote sustainable development
16 hours ago
-
Finance minister meets Chairman Anjuman-e-Tajran; discuss issues of business community
16 hours ago -
Govt ensuring digital access as fundamental right: Ahsan Iqbal
16 hours ago -
WHO delegation calls on Chairman FBR
16 hours ago -
Bill drafted to regulate veterinary sciences and animal welfare: Tanveer
17 hours ago -
General Motors lifts 2024 profit forecast after strong Q1
17 hours ago -
Pakistan aims to reach $3 trillion economy by 2047: Ahsan Iqbal
18 hours ago