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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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    Analysts: Fears increase US oil production portends further declines

    Rocky
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    • Post n°1

    Analysts: Fears increase US oil production portends further declines Empty Analysts: Fears increase US oil production portends further declines

    Post by Rocky Sun Feb 26, 2017 6:21 am

    Analysts: Fears increase US oil production portends further declines




    2017/02/26 | 12:40

    (Encyclopedia of the Day News | Iraq News ) - From: Mahmoud Jamal

    Direct: Analysts for "direct" that oil prices continue to drop to a level of $ 52, during the next week, with the increase in US inventories and expectations of shale oil higher despite news of OPEC's commitment to reduce production.

    She said Baker Hughes energy services company, on Friday, that the number of oil platforms increased five platforms in the week ending February 24 this to rise to 602 platform - the most since October 2015.

    The US government predicted in an earlier statement, published last January, the rise in the US shale oil production in February 40.75 thousand barrels, reaching 4.748 million barrels per day.

    The Commission on the ministerial monitoring the oil market stemming from OPEC and other producers, last Saturday, the commitment of the oil producing countries from inside and outside the organization to cut oil production and adhere to the quota adjustments.

    Organization of Petroleum Exporting Countries has pledged to cut oil production by about 1.2 million barrels per day with effect from the first of January this year, the first cut production in eight years to enhance the price, and get rid of the oversupply. 

    Oil prices have fallen, on Friday, US crude fell by 0.8% to $ 54, Brent fell 1.01% to $ 56.01 a barrel.

    Said Mohammed Zeidan, commodities analyst at Thank Markets, for "direct", the members of OPEC's commitment to news received on production cut agreement has already become not affect negatively or positively; because it took her reaction more than once in the market.

    Among Zidane, the things that pertain to the US production of shale oil platforms and other data are currently controlling the reins of things in the market; it is what prices could push the average to fluctuations on credit.

    He added Zidane: that oil prices still have to continue between levels 55 - $ 51.5, likely decline to $ 52.50 in the coming period. 

    Zamel Al-Otaibi said commodities analyst, for "direct": You may renew activity in the US shale oil sector Recent big after the economic feasibility of production in the light of the price recovery is relatively improved, and increased drilling activities.

    He predicted Otaibi, that the total American production continues to climb and rise to a level beyond 9 million barrels a day.

    Otaibi and between OPEC still believes that the market can accommodate this increase with the improvement in global oil demand levels, pointing out that there are different analyzes of the market and the effects of shale oil.


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