Thursday , July 29 2021

World oil prices fall below $ 58 a barrel in the New York market



LONDON (Reuters) – Oil prices dropped below $ 58 per barrel in the noon exchange at the New York business exchange between the state of tranquility among gross traders, especially after the Organization of Petroleum Exporting Countries (OPEC), that Russia registered the production of petroleum, To 11.6 million barrels per day.

US crude futures for the December delivery fell from $ 2.69, or 4.49 percent, to $ 57.24 a barrel, according to expectations that prices would end today's session at its lowest level since December 2017.

The Organization of the Petroleum Exporting Countries, in its monthly report that issued today, that Russia registered in October a new record in petroleum production, an increase of 50 thousand barrels per day, which raises total production to 11.6 million barrels per day.

OPEC also lowered its forecast for the growth of world petroleum demand by 2019 at 70,000 bpd due to uncertainties in the development of the global economy.


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