Crude oil price stimulated by cutting-supply agreement extension
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Update time : 2020-11-04 18:54:16
The crude oil prices of New York West Texas Intermediate showed an increase of 2.3%, reaching US$37.66/barrel for December.
The main reason for the increase was not only due to the optimistic outlook in the financial market during the US’ presidential election period but also the stimulation of the extension plan of crude oil supply-cutting from the Organization of the Petroleum Exporting Countries (OPEC).
Moreover, the crude oil price in Brent crude also faced a 1.9% increment on the same day, coming to US$39.71/barrel.
