Economist: America flooded the market by 3 million barrels to reduce oil prices
19:50 - 13/11/2019
Information / Special…
The United States has raised its oil exports to more than 3 million barrels per day to reduce world oil prices, economist Majid al-Suri said on Wednesday.
He said in a statement to the information, that "America raised its exports during the past two years to more than 3 million barrels per day to reduce oil prices and manipulate its prices globally," pointing out that "oil prices are vulnerable to decline during the next stage as America pumped large quantities of oil in the markets".
He added that "America pumps large quantities of oil between technical and other exceeds the limits of demand in order to lower prices and then return to buy those quantities to achieve large profits," noting that "the political factor is the key player in the stability of oil prices globally."
Oil prices rose on Tuesday, recovering from early losses on hopes that US President Donald Trump may signal progress in trade talks with China in a speech later on Tuesday.