[ad_1]
The Wall Street Journal on Monday underlined the decline in crude prices, adding that badysts expect the increase in supply to calm the price rise that has lasted for months. and pushing oil to its highest level since 2014 Analysts will monitor whether Russia will commit to increasing oil production to fill potential production gaps after Monday's meeting of US President Donald Trump and his Russian counterpart Vladimir Putin in Helsinki, according to a report released Tuesday. After he took it Oil prices fell from their highest levels for several weeks early last week, as oil prices fell on Wednesday because of fears of an increase in Libyan output and signs of increased deliveries. On the recent oil price rally, protectionist trade policies have raised growing concerns about the global economic slowdown and reduced material consumption, but badysts believe that the increase in Libyan output
The Organization of Petroleum Exporting Countries (OPEC) and allied oil producers such as Russia, which has reduced its production since the beginning of last year to the end of June, have decided to increase their production up to 1 million barrels a day. But some market participants said the increase was less than expected.
Increasing Uncertainty on Increase in Supply Last Friday, the media reported that Trump was evaluating whether it would resort to emergency oil stocks country.
Chris Kitten said "There is the idea that Trump management is trying to manage the price and try to play with Russia, Iran and the Saudis at the same time, it will take a little longer, "said Man, an energy strategist at Macro Risk Advisors. We take advantage of this weakness.
Oil market observers review weekly data on US oil stocks from the US Petroleum Institute on Tuesday, and from the Energy Information Administration on Wednesday.
Source link
