Crude oil prices moved OPEC's confidence, reducing production



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Thai Oil Public Company Limited reports the situation of the oil market closure on January 21, 2019. West Texas crude is at US $ 53.80 per barrel. Brent crude rose 0.04 dollars per barrel to 62.74 dollars per barrel. The price of Brent crude rose slightly. Because investors still believe in an agreement to reduce OPEC production capacity and partners After OPEC producers revealed the country's quota to reduce production capacity In the previous week As for West Texas crude oil prices, there was no closing price on Martin Luther King Jr. Day.

While crude oil prices were also supported by reports from the Office of China's National Statistics. After revealing that in 2018, refineries in China have refined crude oil by 6.8 percent, up to 12.1 million barrels per day. In December 2018, refineries in China increased crude oil by a percentage of 4.4 compared to the same period last year.

In addition, China's gross domestic product (GDP) index in the fourth quarter of 2018 grew 6.4 percent compared to the same period last year. Slowing down from the third quarter of 2018, which grew 6.5 percent, resulted in China's 2018 GDP throughout the year growing 6.6 percent, which was the lowest level in 28 years.

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