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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Oil settles as the dollar fell and expectations of higher production of Russia and America

    Rocky
    Rocky
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     Oil settles as the dollar fell and expectations of higher production of Russia and America Empty Oil settles as the dollar fell and expectations of higher production of Russia and America

    Post by Rocky Wed 18 Jan 2017, 2:36 am

    [size=30]Oil settles as the dollar fell and expectations of higher production of Russia and America[/size]
    18/01/2017 09:00 | Number of Views: 318
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    Direction Press
     
     Oil prices settled unchanged on Tuesday as the dollar fell and comments from Saudi Arabia that it would abide change to OPEC's agreement to cut production, which negated the impact of expectations that producers than in the United States and Russia crude production later this year.


    And went down the dollar index, which tracks the US currency's performance against a basket of major currencies to its lowest level in nearly six weeks after US President-elect Donald Trump said that the dollar's strength adversely affect the competitiveness of the United States.

    The dollar 's decline leads to lower cost of oil denominated in US currency to holders of other currencies. 
    Hostel International benchmark Brent crude 39 cents , or 0.7 percent , to reach a settlement at US $ 55.47 a barrel.And increased crude West Texas Intermediate US 11 cents or 0.2 percent to reach a settlement at US $ 52.48 a barrel.


    The Van dollars have risen earlier on Tuesday. 
    Oil received some support earlier in the day from Tuesday 's remarks to Saudi Arabia 's largest oil exporter which said it would stick to its pledge to cut production completely under an agreement between OPEC and other producers such as Russia.


    Under the agreement, Russia pledged to OPEC and other producers outside the organization to cut oil production by about 1.8 million barrels a day for six months initially to match supply with demand.


    At the same time downloading and source of the oil sector data it reported that oil exports from Iraq's southern ports decreased since the beginning of January in a sign that the second-biggest producer in OPEC is committed to the organization's decision to cut production.


    But the gains in crude prices Kpanha expectations of Russian and American production up and cast doubt on the whole, OPEC's commitment to its pledge to cut supplies.


    The US government said on Tuesday that is expected to stop the wave of decline of shale oil production in the United States, which lasted three months in February, with the energy companies to increase drilling activities.


    A Reuters poll of the views of analysts and showed that it is expected that Russian oil production in 2017 up to a new level is the highest post-Soviet era after the end of the period of validity of the production cut in the June agreement.



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