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Oil falls amid concerns about Chinese demand and production of a Russian record
03.11.2015
Oil prices fell with the release of Chinese economic data fueled fears of a slowdown in demand in one of the largest consumer of oil in the world, while Russian production led high standard level to increase global supply glut.
And decreased global Brent crude futures 77 cents, or 1.6 percent, to $ 48.79 a barrel at the settlement.
US crude futures down 45 cents or one percent at the settlement of up to $ 46.14 a barrel.
The survey showed that "factory activity in China fell in October for the eighth consecutive month, indicating continued slowdown in the second largest economy in the world."
Russia and declared that "the production of crude in October reached its highest level after the Soviet era to reach 10.78 million barrels per day in excess of the unit glut in supply prices, which fell to less than half of its peak in June, June 2014".
These data reflect Russia's strategy to protect its market share with the start of its competitors in the Gulf of conventional crude supply markets.
And industry analysts expect continued weakness in oil prices next year as OPEC stuck to its position of probably keep production at record high levels when the group meets on the fourth of December. Ended 29/4 e
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03.11.2015
Oil prices fell with the release of Chinese economic data fueled fears of a slowdown in demand in one of the largest consumer of oil in the world, while Russian production led high standard level to increase global supply glut.
And decreased global Brent crude futures 77 cents, or 1.6 percent, to $ 48.79 a barrel at the settlement.
US crude futures down 45 cents or one percent at the settlement of up to $ 46.14 a barrel.
The survey showed that "factory activity in China fell in October for the eighth consecutive month, indicating continued slowdown in the second largest economy in the world."
Russia and declared that "the production of crude in October reached its highest level after the Soviet era to reach 10.78 million barrels per day in excess of the unit glut in supply prices, which fell to less than half of its peak in June, June 2014".
These data reflect Russia's strategy to protect its market share with the start of its competitors in the Gulf of conventional crude supply markets.
And industry analysts expect continued weakness in oil prices next year as OPEC stuck to its position of probably keep production at record high levels when the group meets on the fourth of December. Ended 29/4 e
[You must be registered and logged in to see this link.]
