BLOOMBERG.COM
November futures rose by as much as 2.5 percent in New York. OPEC ministers can transform the gathering into an extraordinary meeting since they’ll all be present, Algerian Energy Minister Noureddine Bouterfa said on public radio. Supply needs to be cut by 1 million barrels a day to rebalance the market and stabilize prices, he said. U.S. crude stockpiles dropped by 7.5 million barrels last week, the American Petroleum Institute was said to report Tuesday.
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November futures rose by as much as 2.5 percent in New York. OPEC ministers can transform the gathering into an extraordinary meeting since they’ll all be present, Algerian Energy Minister Noureddine Bouterfa said on public radio. Supply needs to be cut by 1 million barrels a day to rebalance the market and stabilize prices, he said. U.S. crude stockpiles dropped by 7.5 million barrels last week, the American Petroleum Institute was said to report Tuesday.
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