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Oil falls amid signs of stability in production
Oil prices fell nearly one percent on Monday as investors awaited the continued strong indications of the effectiveness of the efforts that led OPEC to cut global supply glut, but production increases in some of the major producing countries, which have receded somewhat crude losses.
An official in the oil sector that Libya's production of crude reached 1.03 million barrels per day unchanged from its level since the end of last month.
Baker Hughes was said on Friday that US companies added Hvarta oil over the week ending July 14, the total number of drilling rigs for up to 765 platform. The average new rigs in the last four weeks, five excavators and is the slowest pace of increase since November 2016.
But it is expected that the shale oil production rises in the United States for the eighth consecutive month to reach 112 thousand barrels per day to 5.585 million barrels per day in August.
Global fell London Brent crude, or 49 cents is equivalent to one percent to settle at US $ 48.42 a barrel.
US crude fell 52 cents light or 1.1 percent to settle at US $ 46.02 a barrel.
Price touched earlier in the highest levels since the fifth of July.
http://economy-news.net/content.php?id=8299
Oil prices fell nearly one percent on Monday as investors awaited the continued strong indications of the effectiveness of the efforts that led OPEC to cut global supply glut, but production increases in some of the major producing countries, which have receded somewhat crude losses.
An official in the oil sector that Libya's production of crude reached 1.03 million barrels per day unchanged from its level since the end of last month.
Baker Hughes was said on Friday that US companies added Hvarta oil over the week ending July 14, the total number of drilling rigs for up to 765 platform. The average new rigs in the last four weeks, five excavators and is the slowest pace of increase since November 2016.
But it is expected that the shale oil production rises in the United States for the eighth consecutive month to reach 112 thousand barrels per day to 5.585 million barrels per day in August.
Global fell London Brent crude, or 49 cents is equivalent to one percent to settle at US $ 48.42 a barrel.
US crude fell 52 cents light or 1.1 percent to settle at US $ 46.02 a barrel.
Price touched earlier in the highest levels since the fifth of July.
http://economy-news.net/content.php?id=8299
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