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Oil falls on news that Saudi Arabia sees no need for the summit to support prices
09.11.2015 at 09:50 (GMT Baghdad)
Crude oil prices fell Friday on news that Saudi Arabia's largest oil exporter in the world does not see the need for a summit of the leaders of OPEC to defend prices wiped out as part of a large increase in the previous session, which was supported by strong demand for gasoline.
The decline in global Brent crude for October delivery month closest maturity 20 cents to $ 48.69 a barrel 0034 GMT, after rising to $ 1.31 (2.8 percent) at the settlement in the previous session to $ 48.89 a barrel.
US light crude lost in the month of October contracts for the nearest maturity of October 29 cents to $ 45.63 a barrel after increased to $ 1.77 (four percent) settled at $ 45.92 a barrel.
Well-informed sources said on Thursday that Saudi Arabia considers that such a summit of the leaders of oil-producing countries will not result in concrete action to support crude prices.
The comments came after a meeting of oil ministers of the Gulf states on Thursday, with the Emir of Qatar in Doha, which was to discuss the proposal of Venezuela for a summit of the member countries in OPEC and producers outside.
Oil prices rose on Thursday after the US Energy Information Administration data showed that gasoline demand in the last four weeks rose by four percent compared with a year ago.
Energy Information Administration data showed that commercial crude oil inventories in the United States rose last week more than expected but crude inventories in the delivery of futures contracts in Cushing, Oklahoma center Traj.anthy 29
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09.11.2015 at 09:50 (GMT Baghdad)
Crude oil prices fell Friday on news that Saudi Arabia's largest oil exporter in the world does not see the need for a summit of the leaders of OPEC to defend prices wiped out as part of a large increase in the previous session, which was supported by strong demand for gasoline.
The decline in global Brent crude for October delivery month closest maturity 20 cents to $ 48.69 a barrel 0034 GMT, after rising to $ 1.31 (2.8 percent) at the settlement in the previous session to $ 48.89 a barrel.
US light crude lost in the month of October contracts for the nearest maturity of October 29 cents to $ 45.63 a barrel after increased to $ 1.77 (four percent) settled at $ 45.92 a barrel.
Well-informed sources said on Thursday that Saudi Arabia considers that such a summit of the leaders of oil-producing countries will not result in concrete action to support crude prices.
The comments came after a meeting of oil ministers of the Gulf states on Thursday, with the Emir of Qatar in Doha, which was to discuss the proposal of Venezuela for a summit of the member countries in OPEC and producers outside.
Oil prices rose on Thursday after the US Energy Information Administration data showed that gasoline demand in the last four weeks rose by four percent compared with a year ago.
Energy Information Administration data showed that commercial crude oil inventories in the United States rose last week more than expected but crude inventories in the delivery of futures contracts in Cushing, Oklahoma center Traj.anthy 29
[You must be registered and logged in to see this link.]
