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23/03/2015 07:44 GMT
Oil prices fall after the announcement of the Saudi production will not cut it alone
Agencies
- Oil prices fell nearly a percentage point in early Asian trade on Monday after Saudi Arabia said at the weekend that it would not cut production unilaterally to defend prices.
Since oil prices began to fall in June, in June 2014, many analysts predicted that reduce Saudi Arabia, OPEC's largest producers of production.
However, Saudi Arabia has so far chosen to keep production steady in a move to defend its market share in front of non-OPEC producers such as Russia and the United States, where production increased as a result of booming oil shale exploration.
Saudi Oil Minister Ali al-Naimi on Sunday, "We tried and we met and did not reconcile to the insistence that the OPEC countries only bear the burden ... We refuse to OPEC's responsibility alone."
He said the size of the OPEC production of 30 percent of the market and 70 percent of non-member countries in OPEC.
He added that supposed to everyone involved if there is a desire to improve prices.
Futures prices for Brent and amounted to $ 54.79 a barrel at 0123 GMT, down 53 cents from its level at the previous settlement.
The price of WTI US mediator 58 cents to $ 45.99 a barrel
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Oil prices fall after the announcement of the Saudi production will not cut it alone
Agencies
- Oil prices fell nearly a percentage point in early Asian trade on Monday after Saudi Arabia said at the weekend that it would not cut production unilaterally to defend prices.
Since oil prices began to fall in June, in June 2014, many analysts predicted that reduce Saudi Arabia, OPEC's largest producers of production.
However, Saudi Arabia has so far chosen to keep production steady in a move to defend its market share in front of non-OPEC producers such as Russia and the United States, where production increased as a result of booming oil shale exploration.
Saudi Oil Minister Ali al-Naimi on Sunday, "We tried and we met and did not reconcile to the insistence that the OPEC countries only bear the burden ... We refuse to OPEC's responsibility alone."
He said the size of the OPEC production of 30 percent of the market and 70 percent of non-member countries in OPEC.
He added that supposed to everyone involved if there is a desire to improve prices.
Futures prices for Brent and amounted to $ 54.79 a barrel at 0123 GMT, down 53 cents from its level at the previous settlement.
The price of WTI US mediator 58 cents to $ 45.99 a barrel
[You must be registered and logged in to see this link.]
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