Out of bounds

Out of bounds



New York
oil prices fall 3% by increasing the global supply of
oil prices fell nearly three percent at the end of the week settlement, after rising US production and exports of OPEC to the highest level this year, including cast doubt on producers efforts 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.
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.
Russia , which cooperate with OPEC in agreement to reduce production, it is ready to consider a review of the agreement if the need arises.
It is expected to meet oil - producing countries , which monitors the agreement on July 24 in Russia, where he will try to recommend amending the agreement.
At the same time, it seemed that the low oil prices did not deter the US producers , where increased companies the number of drilling oil rigs by seven platforms , according to energy services firm Baker Hughes , bringing the number to 763 excavator, which is the largest since April 2015.
US government data showed on Thursday, that the production of US oil rose one percent to 9.34 million barrels per day last week, after recording a decline in the previous week.


Hamburg
European Union: We will respond to America if punitive measures imposed on steel
European Commission President Jean - Claude Juncker said at the Group of Twenty summit in Hamburg, said that the European Union would respond if the United States imposed punitive duties on steel.
Adding that the new trade agreement between the European Union and Japan, which was signed on Thursday, shows that the Europeans do not put a "firewall."
He declined to Juncker , and Commission officials to disclose details on how they would react if Washington imposed quotas or new duties on steel, which measures the leaders in Europe , says it would be unjustified and represents a punishment for the allies of the United States in response to the abundant supply in the global steel markets , which was part large ones from China.
A spokeswoman for UNHCR , "We will have a dialogue instead on energy (productivity) in excess of steel instead of protective measures against steel imports from other parts of the world.

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