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Foto: Noticias24
(Caracas, July 11, News24) .- The prices of oil indices have broken their upward trend, in the face of cross-reports, which speak of possible increases in the Saudi oil production, as a temporary relief to provide declines due to production cuts in Libya, Venezuela and Iran.
WTI, a marker and benchmark for the New York market, lowered its price by US $ 0.85, putting the price per barrel at US $ 73.57.
Brent crude, which is used as a reference on the London market, sees its price fall by US $ 0.69, placing the price of its barrel at US $ 78.11.
The value of the OPEC basket, the average gross quotations of the 15 member countries of the oil exporting organization, adjusted its price to US $ 0.73 by placing the price from the basket of the organization to 75, 23 US $.
F The price of the Venezuelan oil blend for the week ending July 6th was set at 461.76 Ys. per barrel . Our oil is traded in yuan, unlike what happens on the international market, where the US dollar reigns.
This price behavior follows a series of cross-references to Saudi Arabia's desire to increase crude oil production to 2 million barrels per day to compensate for the price. the decline in the overall energy supply, the decline in production in Libya, Iran and Venezuela.
OPEC President and UAE Minister of Energy, Suhail al-Mazrouei, stressed that the organization has no short-term plan, to increase production, but that they are thinking about the role of OPEC balance in the market and could increase the extraction of crude to mitigate the effects of cuts.
It has also been learned that the American Petroleum Institute (API) has reported a significant drop in strategic energy reserve levels, around 6,796 million barrels, due to the fact that it has been reported. increase in private demand for fuel.
Photo: News24
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