Oil prices settled higher on Wednesday as investors' concerns for oversupply eased.
The West Texas Intermediate for March delivery increased 1.24 U.S. dollars to settle at 53.29 dollars a barrel on the New York Mercantile Exchange. Brent crude for April delivery rose 1.37 dollars to close at 59.12 dollars a barrel on the London ICE Futures Exchange.
The Organization of the Petroleum Exporting Countries, Russia and other oil producers will convene a ministerial meeting in March in Vienna as originally scheduled to make a decision on production policies for the upcoming months, Russian deputy energy minister Pavel Sorokin said Tuesday.
Hopes that the world's major exporters would deepen supply cuts supported the oil prices.
| Index | RMB/t | DoD | Basis | Date |
|---|---|---|---|---|
| Datong 5500 | 455 | 0 | ex-mine | 07-01 |
| Shuozhou 5200 | 445 | 0 | FOR | 07-01 |
| Ordos 5500 | 420 | 0 | ex-mine | 07-01 |
| Yulin 6200 | 540 | 0 | ex-mine | 07-01 |
| Liulin Low-sulphur | 565 | 0 | ex-mine | 07-01 |
| Gujiao Low-sulphur | 1095 | 0 | FOR | 07-01 |
| Xingtai Low-sulphur | 1210 | 0 | ex-Factory | 07-01 |
| Yangquan PCI | 795 | 0 | FOR | 07-01 |
| Index | RMB/t | WoW | WoW% | Date |
|---|---|---|---|---|
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