Oil prices rise on decline in US drilling activity, OPEC supply cuts [CNBC]
GE Aerospace (GE)
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Source: CNBC
Oil prices rise on decline in US drilling activity, OPEC supply cuts Getty Images prices rose early on Monday, with Brent hitting its highest level since November, driven up by a decline in U.S. OPEC. Brent crude futures U.S. West Texas Intermediate "The path of least resistance remains higher (for oil prices)," said Stephen Innes, head of trading at SPI Asset Management, pointing to Saudi Libya Venezuela U.S. energy firms last week reduced the number of oil rigs operating by two, to 825, General Electric Co's Outside the United States, the Organization of the Petroleum Exporting Countries (OPEC) has led supply cuts since the start of the year aimed at tightening global oil markets and to propping up crude prices. Brent prices have risen by more than a third this year, while WTI has climbed more than 40 percent over the same period.
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