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After the OPEC decision to cut production. Oil prices fall to lowest level since 2010
Alsumaria news/Baghdad
Oil prices tumbled to their lowest level since May 2010, Friday, after the Organization of petroleum exporting countries (OPEC) to cut production, leaving ample supplies in the market. After Thursday's meeting, said the Organization, which includes the 12 countries, in a statement, she decided to keep the daily output ceiling, which currently stands at 30 million barrels. U.S. crude contracts fell crude in early Asian dealings to 67.75 dollars per barrel, down nearly six dollars from Wednesday's settlement price. U.s. markets were closed Thursday for Thanksgiving holiday. By 12: 15 GMT, US oil recovered slightly to $ 68.76 a barrel. And with the loss of about 15 percent in November, the u.s. crude contracts to record the largest monthly drop since May 2010. And Brent to record the largest monthly drop since November 2008, with a decline of more than 15 percent this month. Brent losses amounted to more than 37 percent since June, due to increase in production of oil shale in North America dominated the demand at a time when growth is slowing the global economy.
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Alsumaria news/Baghdad
Oil prices tumbled to their lowest level since May 2010, Friday, after the Organization of petroleum exporting countries (OPEC) to cut production, leaving ample supplies in the market. After Thursday's meeting, said the Organization, which includes the 12 countries, in a statement, she decided to keep the daily output ceiling, which currently stands at 30 million barrels. U.S. crude contracts fell crude in early Asian dealings to 67.75 dollars per barrel, down nearly six dollars from Wednesday's settlement price. U.s. markets were closed Thursday for Thanksgiving holiday. By 12: 15 GMT, US oil recovered slightly to $ 68.76 a barrel. And with the loss of about 15 percent in November, the u.s. crude contracts to record the largest monthly drop since May 2010. And Brent to record the largest monthly drop since November 2008, with a decline of more than 15 percent this month. Brent losses amounted to more than 37 percent since June, due to increase in production of oil shale in North America dominated the demand at a time when growth is slowing the global economy.
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