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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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    Low oil prices after OPEC production increase

    Rocky
    Rocky
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    Posts : 272180
    Join date : 2012-12-21

    Low oil prices after OPEC production increase Empty Low oil prices after OPEC production increase

    Post by Rocky Tue 31 Jul 2018, 2:59 am

    Low oil prices after OPEC production increase
    Low oil prices after OPEC production increase Irq_514660455_1533021615
    Oil prices tumbled on Tuesday after the Organization of the Petroleum Exporting Countries (OPEC) reached a high level of 2018 in July, but fears of supply disruption have reduced losses.
    Brent crude for September delivery fell 7 cents to $ 74.90 a barrel at 0109 GMT after rising 68 cents, or 0.9 percent, on Monday.
    US WTI crude contract prices also fell six cents to $ 70.08 a barrel, after rising more than 2% in the previous session.
    A Reuters survey showed that OPEC increased its production in July by 70,000 barrels per day to 32.64 million bpd, a high level for 2018. Further increases in supplies would offset production stoppage in some areas and absorb the impact of price pressures.
    "The gains of US crude on Monday came from expectations that US crude inventories fell last week and fears that production at the Synchrode facility in Canada will be halted will not be overcome as soon as expected," traders said.
    Oil prices have recovered from low levels that have fallen over the past two weeks as sanctions against Iran have begun to cut exports from that country. US President Donald Trump said he was "ready for talks without preconditions with Iranian President Hassan Rowhani."


    http://aynaliraqnews.com/index.php?aa=news&id22=102434

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