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Oil prices fall due to increasing the number of oil rigs in America
20/03/2017 10:41 | Number of Views: 41 font size: Decrease font Enlarge font
Direction Press / Agencies
Oil prices fell on Monday after a growing number of oil rigs in the United States and the continuation of high supplies from OPEC countries led in spite of the cuts announced in the production to the pressure on the already saturated market already.
Benchmark Brent prices have fallen to the nearest month maturity of 20 cents from the last closing price at 0025 GMT, at $ 51.56.
The price of futures contracts for WTI US mediator 28 cents to $ 48.50 a barrel.
Traders said prices are under pressure due to the high number of oil rigs in the United States and the continuation of high supplies from OPEC, although its pledge to cut production about 1.8 million barrels per day with some other producers such as Russia.
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