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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 falls with the continuing uncertainty in the OPEC production cuts

    Rocky
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    • Post n°1

    Oil falls with the continuing uncertainty in the OPEC production cuts Empty Oil falls with the continuing uncertainty in the OPEC production cuts

    Post by Rocky Sat 18 Mar 2017, 1:59 am


    Oil falls with the continuing uncertainty in the OPEC production cuts


     Baghdad / term

    Oil prices fell, on Friday, at a time when the market is looking for evidence that shows the effectiveness of the production cuts agreed by the Organization of Petroleum Exporting Countries (OPEC) in the conduct of oversupply the world, while the average Iraqi oil exports in the first half of this March 3.25 million barrels a day, amid doubts the possibility of his commitment to an agreement to cut production.
    By 0745 GMT, the global decline in London Brent crude ten cents or 0.19 percent to $ 51.64 a barrel.
    The inn WTI US mediator three cents or 0.06 percent to $ 48.72 a barrel.
    Oil prices have fallen so much, in the last week, due to fears that the production cuts agreed by OPEC and producers outside, including Russia, not shrinking oversupply expected pace in the face of growing US production.
    The official data showed that crude stocks in the United States, the biggest oil consumer in the world, fell last week, with the decline in imports , after rising for nine consecutive weeks, while crude stocks fell by 237 thousand barrels per day, in the week ending on the tenth of this March, in contrast to analysts who had expected an increase of 3.7 million barrels estimates.
    The findings of OPEC and independent producers , including Russia, to last year 's historic agreement to cut production by about 1.8 million barrels per day in the first half of 2017.
    But the organization said in its monthly report, said that global oil inventories, increased in January, to 278 million barrels per day above five - year average.
    In a sign that OPEC 's efforts has little effect, increased shipments to Asia, three percent since the conclusion of the Organization agreement to cut supplies.
    The average price of Iraqi oil exports in March , 3.25 million barrels per day, during the four first fifteen days of the month, down slightly from its level in February of 3.27 million barrels per day. But the decline was not as much as expected , which may raise doubts about Iraq 's commitment to an agreement to cut production.

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