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Rock pressure on oil prices down
Thursday, 20 August, 2015
Oil prices continue to decline because of oversupply and doubts about global demand with expectations of weak growth of the Chinese economy
BAGHDAD / Obelisk: Oil prices continue to decline because of oversupply and uncertainty about the global demand outlook with weak growth of the Chinese economy, the second largest economy in the world, but that the continuation of shale oil production in North America increases the pressure on prices .
And the price of oil reached US light (West Texas) to a little over $ 42 a barrel, while Brent oil price dropped to a few cents above $ 48 a barrel .
Despite market fears the likelihood of falling demand with the continuation of the big show betting on the collapse of oil, especially in America’s rock and gas production sector failure had the greatest impact on the continued decline under the ceiling of $ 50 a barrel, as many analysts see in the market .
And it encouraged other countries, such as Britain, for example, to think of acceleration to allow the exploration and production of shale oil and gas and overcome the objections of activists, defenders of the environment measures .
In recent weeks, it noted a significant increase in the number of oil production platforms in the United States for up to 876 platform at the end of last month, and in the last week of July 19 entered the work platform .
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Thursday, 20 August, 2015
Oil prices continue to decline because of oversupply and doubts about global demand with expectations of weak growth of the Chinese economy
BAGHDAD / Obelisk: Oil prices continue to decline because of oversupply and uncertainty about the global demand outlook with weak growth of the Chinese economy, the second largest economy in the world, but that the continuation of shale oil production in North America increases the pressure on prices .
And the price of oil reached US light (West Texas) to a little over $ 42 a barrel, while Brent oil price dropped to a few cents above $ 48 a barrel .
Despite market fears the likelihood of falling demand with the continuation of the big show betting on the collapse of oil, especially in America’s rock and gas production sector failure had the greatest impact on the continued decline under the ceiling of $ 50 a barrel, as many analysts see in the market .
And it encouraged other countries, such as Britain, for example, to think of acceleration to allow the exploration and production of shale oil and gas and overcome the objections of activists, defenders of the environment measures .
In recent weeks, it noted a significant increase in the number of oil production platforms in the United States for up to 876 platform at the end of last month, and in the last week of July 19 entered the work platform .
[You must be registered and logged in to see this link.]
