The Traderszone Network

Published in TZ Latest News 12 May, 2015 by The TZ Newswire Staff

Rising Demand, Weaker Dollar Boost Oil Prices

Crude climbed after OPEC boosted its global oil demand outlook while the dollar dropped against its peers. The Organization of Petroleum Exporting Countries raised its 2015 consumption estimate in a monthly report Tuesday. U.S. shale oil output fell by about 1% this month and the decline will gather momentum in June, the Energy Information Administration said on Monday.

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