Oil prices rebound in Asia

AFP, SINGAPORE:  Oil prices rebounded in Asia yesterday but nagging worries about excess supplies kept them below 2016 highs after data showed Iran and Iraq increasing output.
The commodity has rallied for four straight weeks thanks to a weaker dollar and hopes that the world economy is slowly turning positive.
However, it fell on Monday after figures showed Iraqi exports hit a near-record 3.36 million barrels a day in April while Iran's production during the month reached 3.5 million barrels per day, the most since December 2011.

Oil prices rebound in Asia

AFP, SINGAPORE: Oil prices rebounded in Asia yesterday but nagging worries about excess supplies kept them below 2016 highs after data showed Iran and Iraq increasing output. The commodity has rallied for four straight weeks thanks to a weaker dollar and hopes that the world economy is slowly turning positive. However, it fell on Monday after figures showed Iraqi exports hit a near-record 3.36 million barrels a day in April while Irans production during the month reached 3.5 million barrels per day, the most since December 2011.