Oil fell further from 2019 highs on Friday as focus shifted to a lack of progres...
LONDON - Oil fell further from 2019 highs on Friday as focus shifted to a lack of progress in U.S.-China trade talks, but prices found support from supply cuts led by producer club OPEC and by U.S. sanctions on Iran and Venezuela.
Benchmark Brent has risen by just under a third since the beginning of January, when OPEC started to cut production. Nevertheless, bullish sentiment is set to prevail in the near term, helped by output cuts by OPEC and its allies and sharply falling production from Venezuela and Iran, Kumar said.
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