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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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A slight rise in world oil prices

rocky
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A slight rise in world oil prices Empty A slight rise in world oil prices

Post by rocky Mon 10 Jul 2017, 3:33 am

A slight rise in world oil prices



Oil prices rose on Monday, to compensate for the losses experienced recently which fell 3% in the previous session, but the markets are still under pressure from the growing number of oil rigs in the United States and large supplies of OPEC.

Saw contracts futures prices for crude international Brent measurement, today (July 10, 2017), 37 cents or 0.8 percent to $ 47.08 from last close to her, while contracts for crude prices rose West Texas US median 37 cents, or 0.8 percent, to $ 44.60 a barrel, according Manglth Reuters news agency.

Traders said the Agency that the high prices reverse buying opportunistic after the big drop in prices on Friday, but added that the general situation in the market is still weak.

Brent prices remained less than 17 percent from its level at the beginning of 2017 despite the agreement led OPEC to cut production from last January.

US production of oil rose more than ten percent since mid-2016 to 9.34 million barrels per day, and comes at a time when supplies coming from OPEC is still large despite the organization pledged to cut production between January this year and March 2018 .

OPEC exported 25.92 million barrels per day in June, an increase of 450 thousand barrels per day from May and 1.9 million barrels per day from the previous year.

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