2017/06/15 | 11:41
(Encyclopedia of this Day News | Iraq News ) - Live: Oil prices continued to fall during trading on Thursday, near its lowest level in seven months, with rising doubts about OPEC 's ability to cut production.
By 9:10 am GMT, the futures price of crude "Brent" index fell by 0.4% to $ 46.80 a barrel.
Also it fell futures price for crude, "NYMEX" by about 0.6% at $ 44.45 a barrel.
The US Energy Information Administration revealed yesterday, the decline in US stocks of oil by 1.7 million barrels, less than analysts' expectations.
The International Energy Agency also said in its monthly report, said that oil production in countries outside the Organization of "OPEC", this year, will rise by about 700 thousand barrels per day.
And increased investor doubts with data and negative expectations about stocks, and the level of production in as much as OPEC in reducing the level of production.
The producers inside and outside "OPEC" had agreed last month to extend a cut in oil production for a period of 9 months agreement expires in March 2018 but at the same pace of reduction currently applied.