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Oil stability and expectations of an increase in US production amid concerns of OPEC countries DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

Oil stability and expectations of an increase in US production amid concerns of OPEC countries

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Oil stability and expectations of an increase in US production amid concerns of OPEC countries Empty Oil stability and expectations of an increase in US production amid concerns of OPEC countries

Post by RamblerNash Thu Jan 11, 2018 11:14 am

Oil stability and expectations of an increase in US production amid concerns of OPEC countries

Oil stability and expectations of an increase in US production amid concerns of OPEC countries Image

09-01-2018 05:28 PM

The Euphrates -
 
Oil prices have stabilized near their highest level since May 2015 as the market is drawing on political concerns in some OPEC countries and expectations of higher crude output in the United States.

"Oil prices have seen a delicate balance in today's trading," said Abhishek Kumar, chief energy analyst at Global Jazz Analyst in London, in a report to Reuters. "Oil production in the United States is likely to increase as oil prices improve. Which is pushing the oil market down. "

"Brent crude futures ended the session up 16 cents, or 0.2 percent, to settle at $ 67.78 a barrel, while the US benchmark WTI futures contract fell 29 cents, or 0.5 percent to $ 61.73 a barrel. "He said.

"Last week, the benchmark crude oil prices hit their highest levels since May 2015 with Brent reaching $ 68.27 a barrel and US crude at $ 62.21,

according to data from the US Energy Information Administration." US crude production is expected to rise soon above 10 million barrels a day, Largely to a jump in the production of rock oil. "

"US crude production has been increasing to curb the impact of OPEC-Russia production cuts, which came into force in January 2017 and are due to continue until the end of 2018," he said.

A senior Opec source, a key oil producer in the Middle East, said the group was monitoring the unrest in Iran and the economic crisis in Venezuela but would only increase production if there were major and continuing supply hurdles from both countries.

http://www.alforat.info/index.php?page=article&id=54187
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