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Oil prices mixed on receding support from China's steps to revive economy
2023-09-05 00:00:00.0     路透社-非洲     原网页

       TOKYO, Sept 5 (Reuters) - Oil prices were mixed on Tuesday as support from China's measures to shore up its economy vanished, offsetting expectations of an extension in supply cuts by two leading OPEC+ members Saudi Arabia and Russia

       Brent crude futures for November fell 10 cents, or 0.11%, to $88.90 a barrel. U.S. West Texas Intermediate crude (WTI) October futures rose 33 cents, or 0.39%, to $85.88 at 0029 GMT.

       Saudi Arabia is widely expected to extend voluntary oil cuts into October and Russia will unveil a new OPEC+ supply cut deal this week, according to its deputy prime minister.

       "Data released last week showed that increasing exports from Iran and Nigeria are being offset by falls in Saudi Arabian output," ANZ Research said in a note, adding that news from Russia also helped ease concerns of increasing supply elsewhere.

       On the downside, markets have overall priced in China's recent measures to boost the country's faltering economy, offsetting support from the expected oil supply cuts.

       In Japan, the world's third biggest economy, household spending in July fell 5.0% from a year earlier, deeper than a forecast decline of 2.5% and continuing into a fifth month of falls.

       Reporting by Katya Golubkova Editing by Shri Navaratnam

       Our Standards: The Thomson Reuters Trust Principles.

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标签:综合
关键词: Oil prices     offsetting     Saudi     RussiaBrent crude futures     economy     China's measures     supply cuts    
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