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World oil prices fall again by about 3%
08/07/2017
Oil prices fell nearly three percent after rising US production and exports of OPEC to the highest level this year, including cast doubt on the efforts of producers to reduce oversupply in world markets.
Global fell London Brent crude $ 1.40, or the equivalent of 2.9 percent, in the settlement to $ 46.71 a barrel after falling to $ 46.28, the weakest level in more than a week.
And it landed crude contracts for West Texas Intermediate to $ US 1.29, or 2.8 percent, to $ 44.23 a barrel after it was trading at a low price of $ 43.78 a barrel.
He recorded a decline of Van Alkiesaan the sixth week in the past seven weeks, with West Texas Intermediate crude fell 3.9 percent on a weekly basis while Brent down 2.5 percent.
Reuters oil data showed that OPEC production is now at its highest level since the beginning of this year.
Russia, which cooperate with OPEC agreement to cut production and said it was ready to study a review of the agreement if the need arises.
It is expected that the oil-producing countries, which monitors the agreement on July 24 in Russia, where he will try to meet the recommendation to amend the agreement.
At the same time, it seemed that the low oil prices did not deter the US producers, where companies increased the number of drilling rigs by seven oil platforms, according to energy services firm Baker Hughes, bringing the number to 763 excavator, which is the largest since April, 2015.
US government data on Thursday showed that US production of oil rose one percent to 9.34 million barrels per day last week after recording a decline in the previous week.
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