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Oil prices continue to fall
Date: 09:52 01/05/2017
PetroleumInformation / Baghdad ..
Oil prices fell on Monday due to fears of a possible OPEC production cuts led to the reduction of excess supply in the market significantly in the near term should not lead despite the talk about the extension of the validity of these reductions.
The decline of West Texas Intermediate crude for June delivery 12 cents to 49.21 a barrel by 0032 GMT, after closing Friday rose at 36 cents. The contracts rose about two percent from the lowest level reached since the month on Thursday.
Brent crude fell for the price of the nearest month of a new maturity in July fell 14 cents to $ 51.91.
The Iranian Oil Minister said on Saturday that the non-OPEC OPEC countries gave positive signals on the extension of production cuts, which will be supported by Tehran as well.
OPEC meets this month to discuss oil production policy.
A Reuters poll of the views of economists and analysts showed that if OPEC agreed to extend the cuts were bloated global stocks end by the end of the year. Finished / 25
http://almaalomah.info/2017/05/01/economic/151781
Date: 09:52 01/05/2017
PetroleumInformation / Baghdad ..
Oil prices fell on Monday due to fears of a possible OPEC production cuts led to the reduction of excess supply in the market significantly in the near term should not lead despite the talk about the extension of the validity of these reductions.
The decline of West Texas Intermediate crude for June delivery 12 cents to 49.21 a barrel by 0032 GMT, after closing Friday rose at 36 cents. The contracts rose about two percent from the lowest level reached since the month on Thursday.
Brent crude fell for the price of the nearest month of a new maturity in July fell 14 cents to $ 51.91.
The Iranian Oil Minister said on Saturday that the non-OPEC OPEC countries gave positive signals on the extension of production cuts, which will be supported by Tehran as well.
OPEC meets this month to discuss oil production policy.
A Reuters poll of the views of economists and analysts showed that if OPEC agreed to extend the cuts were bloated global stocks end by the end of the year. Finished / 25
http://almaalomah.info/2017/05/01/economic/151781
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