Thursday , June 8 2023

Chicken works in mixed inventions of the US and OPEC


Oil prices A long United States holiday has recorded a mixed trend of one day and operators expect more OPEC signals that will reduce the production output in the group next month and increase the number of fluctuations. The United States has the highest degree until December.

Benchmark Brent advanced to trading Intercontinental Petroleum Exchange (ICE) by 0.17 percent for $ 63.59 per car. In London

On the other hand, WTI's raw light fell by 0.2%, 54.52% of e-commerce in New York Trade.

Futures have changed in New York on Wednesday after a 2.3 percent jump, compared to a few losses lost this week.

On Wednesday, the government reported that it would be expected that OPEC should address excessive supplies, which would have been revealed by the United States' gross inventory in the ninth week since March 2017.

US gross inventories increased 4.9 million barrels in 446.91 million barrels last week, and is the highest since December 2017. The Government has informed the energy information administration (EIA) on Wednesday.

US crude oil production registered a record 11,7 million barrels per day.

Crude in that month was introduced to the bear market, because it was worried about excessive offers. The merchants expect the Iranian oil company to return to market under certain exceptions to petroleum Exporting Countries, and their allies to find ways to achieve their balance over the next month.

OPEC worries about excess supply that may cause lower prices. However, one of the largest exporters of the US OPEC is also pushing the United States to press ahead with rising prices.

The oil market has also been at the weakness of Asian markets, as investors have slowed global growth in the face of rising interest rates in the United States and trade tensions.

In order to face the surge of supply, OPEC is currently examining the reduction reduction process, which is due to meet the 6th of December, although Iran is an important cartel for tackling voluntary cuts. Russia, an allied agency, has not shown any signs of cuts.

"Saudi Arabia has made an unilateral cut, but be careful not to confuse it in the United States, as President Donald Trump has expressed his desire to lower oil prices," said William O & LF., Analyst at Australian investment Loughlin. Rivkin Values.

Reuters, Notimex and Bloomberg's information.

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