Offshore

Oil price balancing at highest level in a year

The oil price is balancing at its highest level in 12 months. Russian president Vladimir Putin has laid a solid market foundation, but Goldman Sachs questions the likelihood of balance being restored to the market.
Photo: Royal Dutch Shell PR
Photo: Royal Dutch Shell PR
BY RITZAU FINANS & SHIPPINGWATCH

A barrel of European reference oil Brent cost USD 53.05 on Tuesday morning against USD 53.25 on Monday afternoon. According to Bloomberg news, this is the highest level in 12 months.

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