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Stock impact report

Oil little changed, U.S. ties 18-year low after OPEC cuts demand forecast [Toronto Globe and Mail (Ontario, Canada)]

ConocoPhillips (COP) 
Last conocophillips earnings: 4/30 07:00 am Check Earnings Report
Oil little changed, U.S. ties 18-year low after OPEC cuts demand forecast Oil prices were mixed on Thursday, as Brent crude rose modestly while U.S. futures ended unchanged at an 18-year-low after some European countries said they would relax coronavirus restrictions even though OPEC lowered its global oil demand forecast. Brent futures gained 13 cents, or 0.5 per cent, to settle at $27.82 a barrel, while U.S. West Texas Intermediate (WTI) crude ended the day unchanged at $19.87, marking the second straight day at its lowest close since February 2002. The crude market has not been able to sustain a rally since the Organization of the Petroleum Exporting Countries and allies, a group known as OPEC+, came to a deal at the weekend to drastically cut world supply. However, traders said that because some countries in Europe are considering easing lockdowns, that could augur for a rebound in fuel demand. Officials at the World Health Organization warned countries to move with extreme cautio Show less Read more
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