[size=37]Oil falls with optimism dissipated OPEC meeting due to overload and take profit[/size]
BAGHDAD - The Journal News
Crude oil prices fell Tuesday with dissipated upward momentum that has resulted in a possible meeting of oil producers due to continued fears of oversupply in the global markets and a wave of profit-taking after crude about three percent in the previous session.
He said Venezuelan Oil Minister Aaolockheo del Pino Monday: The meeting between producers within the Organization of Petroleum Exporting Countries (OPEC) and outside may take place "in the coming weeks" at a time when his country is seeking in which to provide the necessary support to raise the low oil prices.
He said some OPEC officials: The installation of crude production in the world markets may be subject of discussion at a meeting of the organization held that are already scheduled in September, but Russia is not an OPEC member and the largest oil producer in the world has said it sees no justification for the installation of production at current levels.
It fell International benchmark Brent crude futures for October delivery 30 cents to $ 45.09 a barrel by 0608 GMT, after closing Monday at a height of $ 1.12, or about 2.5 percent. The price of Brent elevated six percent since the beginning of the month after having fallen about 15 percent in July.
The price of WTI US mediator in the September contract rose 28 cents to $ 42.74 a barrel, after closing up $ 1.22, or the equivalent of 2.9 percent on Monday. He lost the US Brent crude nearly 14 percent last month, however, is high by about 2.5 percent since the beginning of August.