NEW YORK (TheStreet) -- Shares of Valero Energy
(VLO - Get Report)
are up 1.05% to $47 in afternoon trading Wednesday as Brent crude oil
rallies to hold above $48 a barrel, on a weaker dollar and upbeat
comments by the Organization of the Petroleum Exporting Countries'
Secretary General, according to Reuters.
OPEC Secretary General Abdullah al-Badri defended the decision to maintain output in November, Reuters reports.
Badri said if the organization had reduced supply non-OPEC member countries would have increased production forcing OPEC to impose more cuts and lose further market share to rival producers, Reuters added.
Read more Click here / www.trade4x.net
OPEC Secretary General Abdullah al-Badri defended the decision to maintain output in November, Reuters reports.
Badri said if the organization had reduced supply non-OPEC member countries would have increased production forcing OPEC to impose more cuts and lose further market share to rival producers, Reuters added.
Read more Click here / www.trade4x.net
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