The oil price remains negative on the growth of production in the US.

Oil prices in the world continue to fall due to the news of the possible introduction by the United States of new trade taxes on China and statistics on the production of record oil in the United States. This is evident from the data of transactions and comments from analysts, reports RIA Novosti.

As of 21.21 Moscow time, the value of November futures for the North Sea oil mix of Brent brand fell by 0.27 percent, to $ 77.81 a barrel, October futures for WTI oil – by 0.38 percent, to $ 70 per barrel.

Bloomberg, referring to sources, said the White House is preparing to introduce the next "tranche" of US duties on Chinese imports of $ 200 billion in September. Investors are concerned that levies may affect the decline in demand for commodities, including oil, in China.

In addition, the Energy Information Administration of the US Department of Energy (EIA) reported earlier on Friday that oil production in the country reached a new record level of 10.674 million barrels per day in June, 2.2 percent more than a month earlier. The previous production record was set in April and amounted to 10.475 million barrels of oil per day.

Source link

Leave a Reply