Weaker dollar helps oil prices find $46 West Texas Intermediate prices gained 2.2%, or $1, Tuesday after loses Monday, rising to $46.17 per barrel on the New York Mercantile Exchange. The recovery was boosted by a weaker dollar, making oil more affordable to holders of other currencies. Brent crude prices rose 1.5%, or $0.73, to $50.25 per barrel on the
Investment is expected to double current production Venezuelan President Nicolas Maduro said that Russia’s top oil producer, Rosneft (ticker: RNFTF), agreed to invest around $14 billion in the South American OPEC country’s oil and gas sector. Maduro met with Rosneft CEO Igor Sechin and Venezuela state-owned PDVSA’s president, Eulogio del Pino, Wednesday, reports Reuters. “We had a great meeting and
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