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MTECHTIPS;-Oil firms as Saudis trim exports, US output forecast reduced

Wednesday, March 13, 2019 0:31

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MTECHTIPS;-Oil firms as Saudis trim exports, US output forecast reduced

MTECHTIPS-Oil prices edged higher on Wednesday, supported by planned cuts to Saudi exports and a reduced forecast for US crude output. International Brent crude oil futures were at $66.93 a barrel at 0039 GMT, up 26 cents, or 0.4 percent, from their last close. Brent touched $67.39 a barrel on Monday, its highest since Feb. 25. U.S. West Texas Intermediate (WTI) crude futures were at $57.17 per barrel, up 30 cents, or 0.5 percent, from their last settlement. U.S. crude oil production is expected to grow slower than previously expected in 2019 and average about 12.30 million barrels per day (bpd) the U.S. Energy Information Administration (EIA) said on Tuesday.

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