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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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Oil prices rise to record highs

rocky
rocky
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Oil prices rise to record highs Empty Oil prices rise to record highs

Post by rocky Sat Nov 04, 2017 4:02 am


Oil prices rise to record highs

09:04 - 04/11/2017


Oil prices rise to record highs %D8%A7%D9%84%D9%86%D9%81%D8%B7-2-696x435
Information / Baghdad ..
Oil prices have risen to record levels in nearly two years, while US crude hit a two-year high after US drilling data showed drilling activity in the United States was falling.
The latest data for the drilling platforms reinforced the market's view that global supplies are on the decline. During the week, prices received support from rising global demand and expectations that the Organization of the Petroleum Exporting Countries (OPEC) and other producers of the supply reduction agreement would expand.
US WTI crude was up $ 1.10, or 2 percent, to $ 55.64 a barrel, the highest since July 2015.
Brent crude futures were also settled at $ 1.45, or 2.4 percent, at $ 62.07 a barrel. Crude has risen about 38 percent since reaching its lowest level in June 2017.
US energy companies cut the number of oil rigs by eight this week, the biggest cut since May 2016, in continuation of a decline in drilling activities that began during the summer when prices fell below $ 50 a barrel.
The number of rigs dropped to 729 in the week ending Nov. 3, the lowest level since May 2016, according to Baker Hughes Energy Services.
OPEC meets at the end of November to discuss further measures after agreeing about a year ago with Russia and other producers to cut production by 1.8 million barrels per day. Ending / 25


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