Oil prices remained steady near $84 a barrel today.
For June delivery, US crude dropped 8 cents to $83.62 a barrel by 12:35am ET, while London Brent crude declined 17 cents to $85.50.
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
OPEC said it expected oil prices to rise over the next week with the US economy on the rise, however, it is cutting oil shipments due to import reductions in Asia.
Despite that, demand in leading Asian economies remains unabated this year and is estimated to grow in the agriculture and transport sectors, according to Reuters.
The Chinese Academy of Social Sciences predicted China’s economy will probably grow by about 9.9% this year, compared with a previous outlook of 9.1%.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
