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Oversupply and raise interest rates continue to put pressure on oil prices
November 3, 2015 0
Singapore
Oversupply and fears of a rise of the dollar, when the Federal Reserve continued (Fed) interest rates end up in the pressure on futures contracts for crude oil on Tuesday.
The total US crude futures to $ 46.17 a barrel by 0628 GMT, up three cents from the last adjustment, after falling in the previous session on growth stocks.
And went down the global Brent crude eight cents to $ 48.71 influenced by pressures imposed by high production in Russia to its highest level after the Soviet era, while the prospects for demand from China fell.
ANZ Bank said in a note morning "Crude remains under pressure due to news that frequent on the side of the supply and slowing demand in China. Russian production exceeded the record level of the post-Soviet Union in October for the fourth time during the current year. The news from Iran paint a negative image. "
At the same time postpone Producers of oil in the Gulf of maintenance work the fields until next year to maintain high production and cut costs with the expectations of consistently low oil prices in 2016.
It is unlikely that the expected decline in US production as a result of falling prices enough to reduce significantly the supply glut is expected to oversupply remains above one million barrels per day on average in 2015.
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November 3, 2015 0
Singapore
Oversupply and fears of a rise of the dollar, when the Federal Reserve continued (Fed) interest rates end up in the pressure on futures contracts for crude oil on Tuesday.
The total US crude futures to $ 46.17 a barrel by 0628 GMT, up three cents from the last adjustment, after falling in the previous session on growth stocks.
And went down the global Brent crude eight cents to $ 48.71 influenced by pressures imposed by high production in Russia to its highest level after the Soviet era, while the prospects for demand from China fell.
ANZ Bank said in a note morning "Crude remains under pressure due to news that frequent on the side of the supply and slowing demand in China. Russian production exceeded the record level of the post-Soviet Union in October for the fourth time during the current year. The news from Iran paint a negative image. "
At the same time postpone Producers of oil in the Gulf of maintenance work the fields until next year to maintain high production and cut costs with the expectations of consistently low oil prices in 2016.
It is unlikely that the expected decline in US production as a result of falling prices enough to reduce significantly the supply glut is expected to oversupply remains above one million barrels per day on average in 2015.
[You must be registered and logged in to see this link.]
