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On the back of increased US production .. Oil falls below $ 52 a barrel
economy Since 2017-05-01 at 16:01 (Baghdad time)
Follow up - Mawazine News
Oil prices fell below $ 52 a barrel on Monday, boosted by an increase in US crude oil production and drilling activities in the United States, overshadowing OPEC-led production cuts in a bid to break the global supply gap.
"US oil production companies added nine new drilling platforms in the week ending April 28, bringing the total to the highest level since April 2015," Baker Hughes Energy Services said.
Government data showed that crude production in the United States reached its highest level since August 2015.
By 0907 GMT, global benchmark crude for July delivery was 33 cents lower at $ 51.72 a barrel.
US crude for June delivery fell 27 cents to $ 49.06 a barrel.
Prices also came under pressure after an official survey showed on Sunday that China's manufacturing sector slowed more rapidly than expected in April, which could negatively affect the outlook for oil demand.
The Organization of the Petroleum Exporting Countries (OPEC) and independent producers are meeting on May 25 to discuss the extension of the cut-off agreement.
Opec members, including Saudi Arabia, are supporting the extension of the cut-off agreement as stocks continue to rise and prices fall to half their mid-2014 level. "
https://translate.google.com/translate?sl=auto&tl=en&js=y&prev=_t&hl=en&ie=UTF-8&u=http%3A%2F%2Fwww.mawazin.net%2F%D8%A7%D9%84%D8%AC%D8%A8%D9%88%D8%B1%D9%8A-%D9%8A%D8%AA%D9%88%D8%AC%D9%87-%D8%A7%D9%84%D9%89-%D8%A7%D9%8A%D8%B1%D8%A7%D9%86-%D8%A8%D9%86%D8%A7-%D8%B9%D9%84%D9%89-%D8%AF%D8%B9%D9%88%D8%A9-%D8%B1%D8%B3%D9%85%D9%8A%D8%A9%2F%D8%B3%D9%8A%D8%A7%D8%B3%D9%8A%D8%A9&edit-text=
economy Since 2017-05-01 at 16:01 (Baghdad time)
Follow up - Mawazine News
Oil prices fell below $ 52 a barrel on Monday, boosted by an increase in US crude oil production and drilling activities in the United States, overshadowing OPEC-led production cuts in a bid to break the global supply gap.
"US oil production companies added nine new drilling platforms in the week ending April 28, bringing the total to the highest level since April 2015," Baker Hughes Energy Services said.
Government data showed that crude production in the United States reached its highest level since August 2015.
By 0907 GMT, global benchmark crude for July delivery was 33 cents lower at $ 51.72 a barrel.
US crude for June delivery fell 27 cents to $ 49.06 a barrel.
Prices also came under pressure after an official survey showed on Sunday that China's manufacturing sector slowed more rapidly than expected in April, which could negatively affect the outlook for oil demand.
The Organization of the Petroleum Exporting Countries (OPEC) and independent producers are meeting on May 25 to discuss the extension of the cut-off agreement.
Opec members, including Saudi Arabia, are supporting the extension of the cut-off agreement as stocks continue to rise and prices fall to half their mid-2014 level. "
https://translate.google.com/translate?sl=auto&tl=en&js=y&prev=_t&hl=en&ie=UTF-8&u=http%3A%2F%2Fwww.mawazin.net%2F%D8%A7%D9%84%D8%AC%D8%A8%D9%88%D8%B1%D9%8A-%D9%8A%D8%AA%D9%88%D8%AC%D9%87-%D8%A7%D9%84%D9%89-%D8%A7%D9%8A%D8%B1%D8%A7%D9%86-%D8%A8%D9%86%D8%A7-%D8%B9%D9%84%D9%89-%D8%AF%D8%B9%D9%88%D8%A9-%D8%B1%D8%B3%D9%85%D9%8A%D8%A9%2F%D8%B3%D9%8A%D8%A7%D8%B3%D9%8A%D8%A9&edit-text=
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