| Oil prices may have stabilised, according to Saudi Arabia and OPEC. The Brent crude benchmark price was US$49.68 a barrel on Friday, after falling 1.8%, but has been trading around US$50 a barrel since early May. Six weeks is a long time in oil land.
That was after prices rose strongly, following a sharp plunge from above US$50 a barrel in November 2015, to less than US$30 a barrel in January 2016. Since then, oil supply appear to be slowly retracting...............................................Full Article: Source
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