Oil prices up ahead of Sino-US trade meeting

Quick Summary:

NEW DELHI: Oil prices were up slightly on Friday, after rising about 3% in the previous session, as trade tensions between top oil consumers U.S.and China showed signs of easing and Britain announced a "breakthrough" trade deal with the United States.

In terms of daily crude demand, India consumes 5.4 million barrels per day (bpd), compared to Pakistan's 0.25 million bpd, according to Rystad Energy estimates.

Rystad Energy analysts expected both countries to increase crude procurement and refinery activity amid mounting tensions.

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Category: EconomyBusiness

Markets: MalaysiaChinaIndiaIraqPakistanSwitzerlandUnited StatesVenezuela

Topics: Crude LNG Brent WTI Opec Commodities /Business/Business News Gas Oil

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-05-09 @ 13:33:00 (14 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 516 words

Reading Time: 3 minutes read

Sentences: 16 lines

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Copyright Owner: © The Star

News ID: 28507041

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