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Falling oil prices 4% with continued oversupply

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Rocky


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Falling oil prices 4% with continued oversupply




11.13.2015

Oil prices tumbled nearly 4%, in the global markets, on Thursday.
And determine the settlement price of the futures contract for Brent to drop to $ 1.75, or 3.8%, at $ 44.06 a barrel.
The inn benchmark Brent below $ 45 a barrel for the first time since August / August in decline is the sixth over seven days in which lost more than $ 6, the equivalent of 12%, which confused the dealers who thought that the price already reached a bottom this year.
And US crude futures closed as low as $ 1.18 or 2.8% to $ 41.75.
This decline came the latest data by the continued rapid rise in US stocks towards record levels for the month of April / April show despite the slowdown in shale oil production in the United States. According to the weekly inventory numbers increased 4.2 million barrels, or four times the market expectations.
At the same time, the Organization of the Petroleum Exporting Countries (OPEC) in its monthly report that the decline in production in October / October, but still capable of pumping at current levels on a daily surplus of over 500 thousand barrels per day by 2016.anthy / 29 / d 24

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