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Oil prices fall by more than 1% amid doubts about supply and trade issues
Oil prices fell more than 1% on Thursday, amid doubts about [url=https://www.thebaghdadpost.com/ar/Story/t/110651/%D8%A7%D9%84%D9%82%D8%B6%D8%A7%D9%8A%D8%A7 %D8%A7%D9%84%D8%AA%D8%AC%D8%A7%D8%B1%D9%8A%D8%A9]trade and[/url]supply [url=https://www.thebaghdadpost.com/ar/Story/t/110651/%D8%A7%D9%84%D9%82%D8%B6%D8%A7%D9%8A%D8%A7 %D8%A7%D9%84%D8%AA%D8%AC%D8%A7%D8%B1%D9%8A%D8%A9]issues[/url] .
By 7:30 am GMT, the price of Brent crude for March delivery fell 1.1% to $ 60.77 a barrel.
US crude futures for February delivery fell 1.2% to $ 51.74 a barrel.
The US Energy Information Administration announced yesterday that oilinventories fell by 1.7 million barrels per day during the week ended January 4 to reach 439.7 million barrels.
Analysts had forecast inventories would fall by 2.4 million barrels over the same period.
In terms of US production of crude, it stood at the highest level ever during the same period, recording 11.700 million barrels per day.
This month, OPEC and its allies began cutting oil production by 1.2 million barrels per day (bpd) to cope with the fall in prices at the end of last year.
On the trade front, the first talks between China and the United States since the signing of the trade truce ended yesterday, without giving details of the outcome of the discussions.
https://www.thebaghdadpost.com/ar/Story/144132/%D8%A7%D9%86%D8%AE%D9%81%D8%A7%D8%B6-%D8%A3%D8%B3%D8%B9%D8%A7%D8%B1-%D8%A7%D9%84%D9%86%D9%81%D8%B7-%D8%A8%D8%A3%D9%83%D8%AB%D8%B1-%D9%85%D9%86-1-%D9%88%D8%B3%D8%B7-%D8%B4%D9%83%D9%88%D9%83-%D8%AA%D8%AC%D8%A7%D9%87-%D8%A7%D9%84%D9%85%D8%B9%D8%B1%D9%88%D8%B6-%D9%88%D8%A7%D9%84%D9%82%D8%B6%D8%A7%D9%8A%D8%A7-%D8%A7%D9%84%D8%AA%D8%AC%D8%A7%D8%B1%D9%8A%D8%A9
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