Saudi officials have taken to the oil sector’s investor relations style with aplomb.
The bank revised its Brent spot price forecast to $63 per barrel for 2020.
Crude oil futures fell by Rs 18 to Rs 4,188 per barrel on Monday.
The step comes at a time when e-tailers are facing rigorous regulatory scrutiny over various practices, particularly over having lopsided contracts favouring some merchants. A merchant, who sells independently on the marketplace and also supplies to Amazon-backed seller firms, said he has used seeding to improve search results.
WTI oil futures were down 28 cents, or 0.47 per cent to $58.92 a barrel.
Money managers “didn’t know that this OPEC decision was coming,” Rob Haworth, who helps oversee about $150 billion at U.S. Bank Wealth Management in Seattle, said Friday. “They have yet to price in the OPEC+ decision today.”
Benchmark Brent oil prices were steady on Friday near $63 per barrel.
West Texas Intermediate oil futures fell 9 cents to $58.34 a barrel.
Copyright © 2019 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service