Crude Oil Prices - Weekly Outlook: December 18 - 22 - Forex Vs Stock

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Sunday, December 17, 2017

Crude Oil Prices - Weekly Outlook: December 18 - 22

Crude Oil Prices - Weekly Outlook: December 18 - 22
Oil fell on a mixed note on Thursday, despite the concerns of growing concerns in the United States, the decrease in their third consecutive constant losses

US West Texas Intermediate (WTT) ordered raw oil prices to be closed at $ 57.34 barrel near 30 cent or 0.5% for January delivery. It has damaged about 0.1 percent so far for the week.

Meanwhile, the US vessel sank the raw future for the raw future, US prices out of the BBC, 8 cents, or almost 0.1 percent, to solve 63.23 $ barrels near trade. For the week, Brent 0.3% lost.

Due to the concerns of both WTI and Brent, the third fasting week is fear that the United States's rising additional production will reduce the OPP's efforts to rid the additional equipment market.

According to official data, US crude oil production rose 73,000 barrels per day (BPD) last week. Household American production has caused 9.78 million BPD due to at least 16% in mid-mid-2016, producing the production near the top producers of Russia and Saudi Arabia.

Statistics of the Baker Hughes Energy Services Unit of General Electric (NYSE: GE) appear before the first cut in drilling numbers in six weeks, which has increased the number of oil drilling veins to four to 747. However, rig counting, the initial indicator of the next generation, is even more than a year earlier when only 510 veins were active.

A strong increase in US production has led to the rise of OPEC leadership to support production in some markets.

Russia's top non-OPEC producers, along with Petroleum Export Countries (OPEC) agreed to last month to increase current oil production for the next nine months till the end of 2018. Oil production reduction agreement by 1.8 million adopted a fast barrel (BPD) OPEC, Russia and nine other global producers in the past winter. This agreement was due to ending in March 2018, was already extended once.

In other energy trade, 2.1 percent in the future of petrol, or 1.3%, for Friday's weekend loss of 3.6 percent, on Friday Friday to $ 1.655.

Heat oil spread 0.4 cents, or 0.2%, a gallon up to $ 1.905, dragging about 1.3% weekly loss.

Meanwhile, the future of natural gas planted the lowest active agreement between 6.0 cents, or 2.3 percent, 2.624 dollars per million British thermal units, February. This weekend 5.8 percent decreased.

On weekdays, market participants ignore weekly information on raw and better products on American stocks to assess demand for power in the world's largest oil consumers Tuesday and Wednesday.

Before the coming week, investment has set a list of them and other important events of the possibility of affecting markets.

Tuesday

US petroleum institute of an industry group is to publish its weekly report on the oil supply of the United States.

Wednesday

US Energy Information Administration is issuing weekly data on oil and petroleum reserves.

Thursday

The US government will publish a weekly report on natural gas supply in the storage.

Friday


Baker Hughes will release weekly figures on American oil rig counting.

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