[size=32]Oil falls amid growing concern ahead of the Doha meeting[/size] |
00:54:08 04/15/2016 |(Voice ofIraq) - Reuters shut down the oil markets lower at the end of avolatile trading on Thursday ,with themarket assessment of a mixed report from the International Energy Agency aswell as doubts about the results ofproducers meeting in Doha next Sunday and the extent oftheir influence in bringing about abalance between supply and demand. Fell futures ore international benchmark Brent 34 cents to reach at 43.84 dollar settlement of a barrel while the closed US light crude was down 26 cents at $ 41.50 a barrel. the international energy agency on Thursday that a deal to install oil production between producers within theOrganization of Petroleum exporting countries (OPEC) and outside in Doha meeting will have alimited impact on theglobal supply of crude and that he is unlikely to restore market balance by 2017. the agency ,which oversees energy policy in theindustrialized world , the world will continue toproduce more than itconsumes crude during 2016 , even though theaccelerated pace ofdecline in production in US and thenon-arrival ofoil production in Iran to theexpected levels.trimmed Agency forecast for growth ofglobal demand for crude in 2016 from theprevious month to 1.16 million barrels per day. thisrepresents a significant decline from the strong growth which reached 1.8 million barrels per day in 2015 on the back oflower oil prices . The International Energy Agency said demand isslowing in China and theUnited States and a large part of Europe 'sgrowth.Crude and got some support from US economic data thedollar for thelowest paid level during the session.Fell the oil in the previous session after sources from the Russian Energy Minister Alexander Novak wasquoted assaying during a meeting closed with oil market analysts in Moscow that the installed production agreement will be fragile framework and will involve a small amount of detailed commitments.(preparation Alaa Rushdie Arab bulletin - edit Mustafa Saleh) [You must be registered and logged in to see this link.]
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