Oil prices rose on Thursday, recouping some of the losses from the previous session that followed a surprise increase in U.S. crude inventories, as the market mood switched to relief after OPEC forecast a supply deficit next year. West Texas Intermediate crude was up 12 cents, or 0.2%, at $58.88 a barrel, following a 0.8% drop the previous session. The Organization of the Petroleum Exporting Countries (OPEC) on Wednesday said it now expected a small deficit in the oil market in the next year, suggesting the market is tighter than previously thought – even before the latest pact …read more
Source:: Yahoo Finance
