Oil eases as US debt risk weighs on prices and Russia plays down on additional OPEC+ cuts2 min read 25 May 2023, 06:45 PM IST
In the previous session, oil prices gained strength from the warning from Saudi Arabia's energy minister that short-sellers betting oil prices will fall should 'watch out' for pain.
Oil prices fell on May 25 after Russian Deputy Prime Minister Alexander Novak played down the prospect of further OPEC+ production cuts at its meeting next week. "I don't think that there will be any new steps, because just a month ago certain decisions were made regarding the voluntary reduction of oil production by some countries..." Novak was quoted as saying by a Russia-based newspaper.
Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!Let’s get started
Select your Category