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Oil prices fell globally
7/1/2017 0:00
[rtl]With the announcement of the actual commitment to cut production countries «OPEC»
capitals / follow - Sabah
Oil prices fell on Friday amid doubts not to some producers applied to production cuts that have been announced in a bid to curb the glut of global supply, at a time when reduced when Iraq and other countries members of the "OPEC" production of crude oil by the recent agreement with producers from outside the organization.
By 0756 GMT , it was trading the global London Brent crude futures at $ 56.76 a barrel , down 13 cents from the closing price in the previous session.
The total US crude West Texas Intermediate to $ 53.65 a barrel , down 11 cents from its price in another settlement.
Analysts said that the current price levels approaching break - even point in the budgets of a lot of producers , including not give mention to very large increases in the cases of sudden crashes did not occur room.
The decline on Friday after prices rose in the previous session following the publication of reports on Saudi Arabia cut supplies and Abu Dhabi in the framework of the Organization of Petroleum Exporting Countries efforts Petroleum "OPEC" and senior independent producers to reduce global supply glut.
A survey released to Reuters this week that the total supply , "OPEC" in December did not go down only slightly to reach 34.18 million barrels per day of production averaged 34.38 million barrels per day in November. The survey was based on the navigation data and information from sources sector.
While traders said that oil markets receive good support from the agreed cuts in production , but they pointed out that there are still doubts that all producers fully committed to the planned cuts.
Verendra Chauhan said the Energy Ospkedz oil analyst in Singapore: " The ball is in the " OPEC "playground for the application of the cuts announced and prove the pessimists wrong."
The oil minister, Jabbar Luaibi, confirmed begin reducing national production of crude oil with the action early in the new year 2017, in line with the Organization of Petroleum Exporting Countries "OPEC" decision, according to the statement of the Ministry of Oil.
As announced in Kuwait Petroleum Corporation, on Wednesday, its commitment to the agreement , "OPEC , " adding that Kuwait 's share of this cut production of 131 thousand barrels per day, and embarked Oman virtually cut daily oil production by 45 thousand barrels.
Reduced Nigeria's oil output by December of 200 thousand barrels per reports, while Saudi production fell 50 thousand barrels during December also it showed.
It is scheduled to oil - producing countries to start implementation of the "OPEC" agreement to reduce production this month, and your cut daily production by about 1.2 million barrels to 32.5 million barrels in this January.[/rtl]
[rtl]http://www.alsabaah.iq/ArticleShow.aspx?ID=129343[/rtl]
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