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A sharp decline in prices for Brent oil and expert expects a further drop
Saturday July 4, 2015
Alsumaria News / Baghdad
Oil prices fell on Saturday, largely to the price of Brent to $ 60 per barrel, while the economist predicted further decline due to several factors.
And it landed the international Brent crude contracts for Brent crude to the nearest 1.75 maturity or the equivalent of 2.79 percent to score at the settlement of $ 60.32 a barrel expanded downward trend began since late May, when prices fell about 13 percent in it.
And US crude futures fell 1.41 dollars or 2.48% to $ 55.52 on the scope of the landing traded since early May, which ranged from $ 57 to $ 62.
The head of the Economic Media Centre lion Muhammad Ali in an interview with Alsumaria News "The OPEC meeting last fired for ceilings production unleashed did not put any limitations for the production of oil and this will enhance the amounts shown in the international markets of crude oil and thus increase the offer compared to demand and continue to deteriorate prices."
He said Mohammed Ali that "the continuation of Daash and the Kurdistan region to pump cheap oil on the black market poses in the oil market before it less than global prices much, which also contributes to reduction of prices which does not serve the global markets."
He said Mohammed Ali that "what looms on the horizon of an economic crisis because of Greece's European partners and give them all of that is expected to further drop in oil prices."
And Brent or Brent, a crude oil is used as a standard two-thirds of the world's oil production for the pricing, especially in the European and African markets, and consists Brent oil blend of 15 different fields in the regions of Brent and Tinian (some of them located in the United Kingdom and others in Norway), which together produce about 500 thousand barrels per day, and is one of the types of light sweet oil because of the specific gravity of 38 degrees and low sulfur by up to 0.37 per cent.
Oil prices have fallen about 60 percent since it peaked last June 2014 with a higher supply of shale oil supplies from North America and slowing demand.
And transformed American shale production boom United States from the largest importer of oil in the world to one of the largest oil producing countries where the source of more than nine million barrels per day.
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Saturday July 4, 2015
Alsumaria News / Baghdad
Oil prices fell on Saturday, largely to the price of Brent to $ 60 per barrel, while the economist predicted further decline due to several factors.
And it landed the international Brent crude contracts for Brent crude to the nearest 1.75 maturity or the equivalent of 2.79 percent to score at the settlement of $ 60.32 a barrel expanded downward trend began since late May, when prices fell about 13 percent in it.
And US crude futures fell 1.41 dollars or 2.48% to $ 55.52 on the scope of the landing traded since early May, which ranged from $ 57 to $ 62.
The head of the Economic Media Centre lion Muhammad Ali in an interview with Alsumaria News "The OPEC meeting last fired for ceilings production unleashed did not put any limitations for the production of oil and this will enhance the amounts shown in the international markets of crude oil and thus increase the offer compared to demand and continue to deteriorate prices."
He said Mohammed Ali that "the continuation of Daash and the Kurdistan region to pump cheap oil on the black market poses in the oil market before it less than global prices much, which also contributes to reduction of prices which does not serve the global markets."
He said Mohammed Ali that "what looms on the horizon of an economic crisis because of Greece's European partners and give them all of that is expected to further drop in oil prices."
And Brent or Brent, a crude oil is used as a standard two-thirds of the world's oil production for the pricing, especially in the European and African markets, and consists Brent oil blend of 15 different fields in the regions of Brent and Tinian (some of them located in the United Kingdom and others in Norway), which together produce about 500 thousand barrels per day, and is one of the types of light sweet oil because of the specific gravity of 38 degrees and low sulfur by up to 0.37 per cent.
Oil prices have fallen about 60 percent since it peaked last June 2014 with a higher supply of shale oil supplies from North America and slowing demand.
And transformed American shale production boom United States from the largest importer of oil in the world to one of the largest oil producing countries where the source of more than nine million barrels per day.
[You must be registered and logged in to see this link.]
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