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Oil falls with an increase of US rigs
Date: 03/27/2017 11:12
oil
Information / Baghdad ..
Oil prices fell on Monday with the growing US drilling activities amid doubts about the extension of the agreement led OPEC to cut production, which is scheduled to end its work initially in the middle of the year.
Global fell London Brent crude 33 cents, or the equivalent of 0.65 percent to $ 50.47 a barrel by 0653 GMT.
In the United States futures contracts for WTI fell 41 cents, or median is equivalent to 0.85 per cent to $ 47.56 a barrel.
Traders said prices fell as a result of growing drilling and production activities in the United States as well as uncertainty over whether the Organization of the Petroleum Exporting Countries (OPEC) and other producers Samddon production cuts after mid-year.
According Sokret Vijayakar director Travicta energy consultancy "There is no shortage of crude oil at the moment ... and the fact that oil shale will recover clear very clearly."
He added that "it seems (also) that there is difficulty in reaching an agreement on the extension of production cuts." Finished / 25 p.
http://almaalomah.info/2017/03/27/economic/142625
Date: 03/27/2017 11:12
oil
Information / Baghdad ..
Oil prices fell on Monday with the growing US drilling activities amid doubts about the extension of the agreement led OPEC to cut production, which is scheduled to end its work initially in the middle of the year.
Global fell London Brent crude 33 cents, or the equivalent of 0.65 percent to $ 50.47 a barrel by 0653 GMT.
In the United States futures contracts for WTI fell 41 cents, or median is equivalent to 0.85 per cent to $ 47.56 a barrel.
Traders said prices fell as a result of growing drilling and production activities in the United States as well as uncertainty over whether the Organization of the Petroleum Exporting Countries (OPEC) and other producers Samddon production cuts after mid-year.
According Sokret Vijayakar director Travicta energy consultancy "There is no shortage of crude oil at the moment ... and the fact that oil shale will recover clear very clearly."
He added that "it seems (also) that there is difficulty in reaching an agreement on the extension of production cuts." Finished / 25 p.
http://almaalomah.info/2017/03/27/economic/142625
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