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Solo Oil Plc

Oil edges up despite IEA report showing demand growth at decade low

Oil prices inched higher on Friday supported by expectations of more OPEC production cuts despite the International Energy Agency (IEA) reporting demand growth at its lowest level since the financial crisis of 2008.

Brent crude futures were at $57.80 a barrel by 0854 GMT, up 42 cents from their previous settlement.

West Texas Intermediate (WTI) futures were at $52.80 per barrel, up 26 cents.

Solo Oil PLC (LON:SOLO) is an investment company with the target of acquiring a diverse global portfolio of direct and indirect interests in exploration, development and production oil and gas assets, both on-shore and off-shore.

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.