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Oil falls for a sixth day in a row with fears of increased production

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rocky
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Oil falls for a sixth day in a row with fears of increased production

Post by rocky on Fri 09 Feb 2018, 4:31 am

Oil falls for a sixth day in a row with fears of increased production





 09 February 2018 10:05 p
[rtl]Mubasher : Oil prices fell on Friday for a sixth consecutive day, coinciding with investor fears about the failure of OPEC's efforts to control production.[/rtl]
[rtl] 
By 0655 GMT, the benchmark Brent crude was down 0.6% at $ 64.43 a barrel.
 
Nymex crude futures dropped $ 60.56 a barrel by 1%.
 
Oil prices were the fifth consecutive decline and the longest wave of losses since last April's settlement, as the price of crude fell to a 5-week low.
 
Oil received a number of negative data throughout the week, as US production continued to rise to record levels, and stocks in the world's largest economy continued to climb for the second consecutive week.
 
Iran also announced yesterday its plan to increase production in the next four years by at least 700 thousand barrels per day.
 
Later in the day, data on crude oil platforms in the US are due to be released.




https://www.mubasher.info/news/3225786/%D8%A7%D9%84%D9%86%D9%81%D8%B7-%D9%8A%D8%AA%D8%B1%D8%A7%D8%AC%D8%B9-%D9%84%D9%84%D9%8A%D9%88%D9%85-%D8%A7%D9%84%D8%B3%D8%A7%D8%AF%D8%B3-%D8%B9%D9%84%D9%89-%D8%A7%D9%84%D8%AA%D9%88%D8%A7%D9%84%D9%8A-%D9%85%D8%B9-%D9%85%D8%AE%D8%A7%D9%88%D9%81-%D8%B2%D9%8A%D8%A7%D8%AF%D8%A9-%D8%A7%D9%84%D8%A5%D9%86%D8%AA%D8%A7%D8%AC
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    Current date/time is Sat 17 Feb 2018, 9:22 pm