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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 falls two dollars a barrel due to lower OPEC

rocky
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 Oil falls two dollars a barrel due to lower OPEC Empty Oil falls two dollars a barrel due to lower OPEC

Post by rocky Sat 26 Nov 2016, 3:09 am

[size=30]Oil falls two dollars a barrel due to lower OPEC[/size]
26/11/2016 09:25 | Number of Views: 54
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Direction Press / follow-up 
 
US crude fell nearly four percent on Friday from his foggy condition on whether the Organization of Petroleum Exporting Countries (OPEC) will reach an agreement on production after Saudi Arabia said it would not attend the talks with independent producers to discuss the reduction of production on Monday.


And decreased global London Brent crude rose 1.76 dollars, or the equivalent of 3.59 per cent in futures to $ 47.24 a barrel at the settlement, while US crude futures down by $ 1.90, or about 3.96 percent to $ 46.06 a barrel.
 

And ended the week US crude was up 13 cents a barrel after it was trading at between 45.77 and $ 49.20 a barrel. 


Brent rose 20 cents during the week and was trading in the range of 46.85 to $ 49.96 a barrel.

 

The trading activity in the already allocated contracts gaunt after US Thanksgiving holiday and ahead of the weekend.


Saudi Arabia informed the organization that it would not attend the talks will be held on Monday, with independent producers to discuss restricting production because you want to focus on reaching a consensus within OPEC First, according to sources in the organization.


An informed Russian source said Moscow still planned to attend the Vienna talks in the twenty-eighth of November, ahead of the ministerial meeting of OPEC on the thirtieth of the same month.


Traders said reports indicated that Saudi Aramco, the state oil company will increase oil supplies to some Asian customers in January cast a shadow over markets as well.


And which contributed to the negative sentiment decline and China's imports of crude oil in October to the lowest level on a daily basis since January.


But some analysts said the fundamentals were little away from the concerns associated with the fate of the agreement next week a change.



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