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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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    Oil prices fall as a result of lack of interest of Iran to engage freeze production

    Rocky
    Rocky
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    • Post n°1

    Oil prices fall as a result of lack of interest of Iran to engage freeze production Empty Oil prices fall as a result of lack of interest of Iran to engage freeze production

    Post by Rocky Tue 15 Mar 2016, 2:27 am

    [ltr]Oil prices fall as a result of lack of interest of Iran to engage freeze production[/ltr]

     Since 03.15.2016 at 08:50 (Baghdad time)
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    [ltr]Follow-up - the balance of News[/ltr]
    [ltr]Oil prices fell nearly three percent on fears that the market, which lasted for six weeks recovery has exceeded the fundamentals in light of the growing US crude inventories and the lack of interest in Iran, with the participation of the top producers in the freezing production.[/ltr]
    [ltr]It is likely that crude stocks in the United States has reached a record high for the fifth consecutive week last week, a rise of 3.3 million barrels, according to analysts' forecasts in a Reuters poll.[/ltr]
    [ltr]Traders said, citing Zhinskab market data that inventories in Cushing, Oklahoma rose about 850 thousand barrels to 69.6 million barrels for the week ending March 11, approaching the size in stock delivery for decades US crude point of maximum power.[/ltr]
    [ltr]In the meantime, the Organization of Petroleum Exporting Countries said that global demand for crude will be less than the previous forecast for 2016 because of competition from the supply from outside the organization. It is likely that the offer over demand about 760 thousand barrels per day instead of 720 thousand barrels per day, as indicated by the previous report of the organization.[/ltr]
    [ltr]Russia has said that a meeting between OPEC and other major oil producers to freeze production is likely to be hosted by Doha next month. She said that Iran supports the plan, while Tehran says it wants to double its supply of crude first to four million barrels per day.[/ltr]
    [ltr]Said Philip Strybl the Ar.jah.oo Futures market analyst in Chicago, "all outgoing data indicate an increase in supply and less demand for oil this only means falling prices."[/ltr]

    [ltr]And determine the settlement price of the futures US crude down to $ 1.32, equivalent to 3.4 percent at $ 37.18 a barrel, while Brent was down 86 cents or two percent at $ 39.53. Ended 29/4 e[/ltr]


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