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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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    Another drop in oil prices

    Rocky
    Rocky
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    Another drop in oil prices Empty Another drop in oil prices

    Post by Rocky Mon 01 Aug 2022, 4:21 am

    [size=35][size=35]Another drop in oil prices[/size][/size]
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    Economie

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    2022-08-01 | 01:38
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    Oil prices fell, early on Monday, while investors in the sector are awaiting a meeting of officials in the Organization of "OPEC" and other major producers, in order to study the supply of markets in the coming period.


    According to the agency,[You must be registered and logged in to see this link.]Brent crude futures fell 63 cents, or 0.6 percent, per barrel at 12 GMT.

    Meanwhile, West Bank crude fell[You must be registered and logged in to see this link.]From $103.34 a barrel to $97.87, or 75 cents.






    Oil had fallen even more, when trading began in Asia, where the price reached $97.55 a barrel.

    This decline comes as the price of oil rose by two dollars, last Friday, benefiting from reports of a decline in stocks[url=https://www.alsumaria.tv/Entity/45068/%D8%A7%D9%84%D9%88%D9%84%D8%A7%D9%8A%D8%A7%D8%AA %D8%A7%D9%84%D9%85%D8%AA%D8%AD%D8%AF%D8%A9/ar/]United State[/url]European fears of supply cuts[You must be registered and logged in to see this link.].

    At the end of last month, both Brent and West Crude recorded[You must be registered and logged in to see this link.]Last July, the second month of losses in a row, for the first time since 2020.
    [rtl]Related Articles[/rtl]

    The price of oil fell, amid fears that inflation and high interest rates would cause an economic recession, which means a decline in demand for "black gold".
    Oil prices rose remarkably after the start of Russian military operations last February, which led to an unprecedented exacerbation of inflation in many countries of the world.

    A report revealed that the “OPEC +” group produced in June a quantity of crude less than three million barrels per day than its expected quotas, as sanctions imposed on some members and a reduction in the volume of investment in others undermined its ability to calm the energy crisis around the world.

    This development represents another setback for the US-led administration[url=https://www.alsumaria.tv/Entity/123261/%D8%AC%D9%88 %D8%A8%D8%A7%D9%8A%D8%AF%D9%86/ar/]Joe Biden[/url]It had hoped that OPEC would be able to increase production to offset Russian supply disruptions and slow rising fuel costs and inflation on its broader terms, according to the report.[You must be registered and logged in to see this link.].

    The Russian Interfax news agency quoted a source familiar with the data as saying that the rate of production shortfall in “OPEC +” jumped to 320 percent in June, from 256 percent in May and 220 percent in April.

    She also said that the shortfall in the production of the "OPEC +" group from the planned levels amounted to 2.84 million barrels per day last month.




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