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[size=35][size=35]Low oil prices due to less demand for fuel consumption[/size]
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2021-05-27 | 02:36
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The price drop came today, despite more evidence of recovery in the United States as oil consumption increases as the epidemic fades, while stocks of US crude oil and gasoline decreased last week, according to government figures released ahead of the start of the traditional summer driving season.
Investors are balancing increased demand in the United States, Europe, and China against weak consumption in parts of Asia where the Corona virus is still strong.At the same time, the OPEC + alliance is now easing production restrictions, and Iranian talks could lead to more supplies returning if the deal is revived. Nuclear.
West Texas Intermediate crude for July delivery fell 0.47% to $ 65.90 a barrel on the New York Mercantile Exchange at 05:17 GMT.
July Brent crude lost 0.52% to $ 68.37 on the ICE Futures Exchange.
Ministers of the Organization of the Petroleum Exporting Countries and their allies are due to meet on June 1 to assess the state of the market and their production policy.
And in the United States, distillate stocks - a category that includes diesel - fell last week to the lowest level since April 2020, according to the Energy Information Administration. Meanwhile, average gasoline supplies for four weeks exceeded 9 million barrels per day for the first time since March of last year.
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Economie
[You must be registered and logged in to see this link.]2021-05-27 | 02:36
[You must be registered and logged in to see this image.]
[/size]
700 views
Oil prices fell today, Thursday, amid fears that the market may face a flood of Iranian barrels if the sanctions imposed on the Gulf product are lifted.
The price drop came today, despite more evidence of recovery in the United States as oil consumption increases as the epidemic fades, while stocks of US crude oil and gasoline decreased last week, according to government figures released ahead of the start of the traditional summer driving season.
Investors are balancing increased demand in the United States, Europe, and China against weak consumption in parts of Asia where the Corona virus is still strong.At the same time, the OPEC + alliance is now easing production restrictions, and Iranian talks could lead to more supplies returning if the deal is revived. Nuclear.
West Texas Intermediate crude for July delivery fell 0.47% to $ 65.90 a barrel on the New York Mercantile Exchange at 05:17 GMT.
July Brent crude lost 0.52% to $ 68.37 on the ICE Futures Exchange.
Ministers of the Organization of the Petroleum Exporting Countries and their allies are due to meet on June 1 to assess the state of the market and their production policy.
And in the United States, distillate stocks - a category that includes diesel - fell last week to the lowest level since April 2020, according to the Energy Information Administration. Meanwhile, average gasoline supplies for four weeks exceeded 9 million barrels per day for the first time since March of last year.
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