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Oil falls with the resumption of US production in the Gulf of Mexico
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Oil prices fell on Tuesday to continue losses in the previous session as US
production resumed from the Gulf of Mexico following Hurricane Bari and with expectations for US oil production to rise to a record high.
Brent crude fell 4 cents to $ 66.44 a barrel by 0642 GMT and lost 0.4 percent on Monday night.
US WTI fell 13 cents, or 0.2 percent, to $ 59.45 a barrel. US benchmark crude fell about 1 percent in the previous session.
On Monday, producers resumed some of the production that stopped in the Gulf of Mexico before Hurricane Bari, which took about 75 percent of the production volume.
As of Monday, the volume of production stopped in the Gulf of Mexico is still 1.3 million barrels per day, or about 80 thousand barrels less than on Sunday.
The market also fell on signs of another increase in US production, which has become the world's largest crude producer, ahead of Russia and Saudi Arabia thanks to shale oil.
In general, US crude production currently exceeds 12 million bpd.
http://economy-news.net/content.php?id=17250
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