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Warnings of America's intervention in reducing the price of oil

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rocky
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Warnings of America's intervention in reducing the price of oil

Post by rocky on Thu 20 Apr 2017, 9:50 am

Warnings of America's intervention in reducing the price of oil


(Reuters) -

France's Total oil and gas, warned on Thursday the possibility of lower oil prices again by the end of this year, due to the "rapid increase in US shale oil production."

CEO Patrick Bojan said in a statement, "prices may go down again," adding that "American producers who have recovered quickly supplies by the end of the flow will renew the year, which could negatively affect the markets."

He added that "it will take between 18 and 24 months, and not only six months to outperform the demand for the offer." Pointing out that "OPEC implemented agreement goes very well."

Oil prices recovered from the low levels reached in January 2016 was often traded above $ 50 a barrel since the beginning of this year after the Organization of Petroleum Exporting Countries Agreement (OPEC) to cut production.

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