Oil Prices Dip
Oil Prices Dip

Oil Prices Dip

Oil Prices Dip

Oil prices declined on Monday, adding to heavy losses at the end of last week on the back of high drilling activity in the United States and ample supplies from OPEC and non-OPEC nations. Brent crude futures, the international benchmark for oil prices, were at $46.21 per barrel, down 50 cents, or around 1%, from their last close, CNBC reported. Prices dropped even as OPEC signaled it may widen its production caps to include Nigeria and Libya, whose output has recovered in recent months after being curtailed by years of unrest. US crude futures were at $43.78 per barrel, down 45 cents. "The market is in trouble and looks very vulnerable to lower numbers," PVM brokerage said in a note. The Organization of Petroleum Exporting Countries has agreed with some non-OPEC members to curtail production until March 2018 but the move has failed to eliminate a global glut of crude. Several key OPEC ministers will meet non-OPEC Russia on July 24 in St. Petersburg, Russia, to discuss the current situation in oil markets.


Short URL : https://goo.gl/adMygh
  1. https://goo.gl/ggYpdy
  • https://goo.gl/RuYqA8
  • https://goo.gl/wvxfR5
  • https://goo.gl/TT6ud8
  • https://goo.gl/iQzUZ4

You can also read ...

South Azadegan field in Khuzestan Province will be the first oilfield to be tendered under the IPC model.
Oil Minister Bijan Namdar Zanganeh said on Tuesday Iran's...
Oil loading capacity at Kharg has increased to 8 million bpd, nearly three times over and above the current level of oil and condensates exports.
Close to 780 million barrels of oil were exported from Iran’s...
US inventories fell 3.6m barrels in the week to Aug. 18.
Oil prices fell on Wednesday, weighed down by concerns of...
South Pars Refinery to Process Gas Condensates
Iran is making efforts to increase its gas condensates...
In terms of output, nuclear power will continue to dominate.
Even a downtick in photovoltaic solar investment this year...
Europeans Abandoning Large Utility Companies
Home energy use is finally exciting to people. Unfortunately...
China Gasoline Exports to  N. Korea Dwindle
China's gasoline exports to North Korea reduced to a dribble...

Add new comment

Read our comment policy before posting your viewpoints

Enter the characters shown in the image.