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The drop in oil prices due to the growing surplus of OPEC members, who have their supplies rose in April to 31.04 million barrels per day.
05/02/2015 02:35
BAGHDAD / Obelisk: futures contracts for crude oil prices fell on Friday, to descend without the highest levels since the beginning of the year 2015 and with the rise of the dollar, and after that the Iraqi Oil Ministry said that oil exports rose in April to a record level of 3.08 million barrels per day from 2.98 million barrels in March.
And a Reuters survey showed, seen by "obelisk", that "the supply of oil from the Organization of the Petroleum Exporting Countries (OPEC) rose in April to its highest level in more than two years to reach 31.04 million barrels per day."
And it increased the price of Brent and US crude between 20 and 25 percent in April, supported by the decline in the dollar, and bets on the decline of oversupply, following a losing streak lasted from June to January, knocked prices to half of the over $ 100 a barrel.
Trading was thin, Friday, in light of the closure of some major markets on the occasion of the May Day holiday.
The decline in the price of Brent crude oil futures 78 cents to $ 66 a barrel, by 17:35 pm GMT. The crude has risen to its highest level in 2015 at $ 66.93 a barrel on Thursday and went up 21 percent in April.
The price of US crude fell 86 cents to $ 58.77 a barrel, after its highest level in 2015 amounted to at $ 59.90 a barrel. Crude rose 25 percent in the past month.
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05/02/2015 02:35
BAGHDAD / Obelisk: futures contracts for crude oil prices fell on Friday, to descend without the highest levels since the beginning of the year 2015 and with the rise of the dollar, and after that the Iraqi Oil Ministry said that oil exports rose in April to a record level of 3.08 million barrels per day from 2.98 million barrels in March.
And a Reuters survey showed, seen by "obelisk", that "the supply of oil from the Organization of the Petroleum Exporting Countries (OPEC) rose in April to its highest level in more than two years to reach 31.04 million barrels per day."
And it increased the price of Brent and US crude between 20 and 25 percent in April, supported by the decline in the dollar, and bets on the decline of oversupply, following a losing streak lasted from June to January, knocked prices to half of the over $ 100 a barrel.
Trading was thin, Friday, in light of the closure of some major markets on the occasion of the May Day holiday.
The decline in the price of Brent crude oil futures 78 cents to $ 66 a barrel, by 17:35 pm GMT. The crude has risen to its highest level in 2015 at $ 66.93 a barrel on Thursday and went up 21 percent in April.
The price of US crude fell 86 cents to $ 58.77 a barrel, after its highest level in 2015 amounted to at $ 59.90 a barrel. Crude rose 25 percent in the past month.
[You must be registered and logged in to see this link.]
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