Energy Up as Oil Recoups Some Losses — Energy Roundup
Shares of energy companies rose as oil futures recouped some of their recent losses, reflecting shifting sentiment on the outlook for growth and central-bank policy.
The Organization of the Petroleum Exporting Countries downgraded its 2019 oil demand growth forecast for the second time in three months and cut its projections for global economic growth on Friday, pointing to uncertainties stemming from the trade dispute between the U.S. and China.
The number of rigs drilling for oil in the U.S. rose by six in the past week to 770, according to oil-field services company Baker Hughes, a GE Company.
Source: Dow Jones