Date: 2 months ago   Category: Financial

Oil becomes cheaper after record growth


Oil becomes cheaper after record growth
On the eve of price of oil rose to a maximum in four years - 80 dollars for barrel. Prices of oil during trading on Thursday, September 13, decrease from the maximum point reached the day before in four years, Interfax writes. Traders estimate the potential of increasing production of OPEC with the purpose to fill the expected reduction of the Iranian export and wait for a meeting of ministerial monitoring committee of OPEC on September 22-23 in Algeria. The November future for Brent at the London's ICE Futures Exchange has fallen in price by 8:22 by $0,48 (0,60%) - up to $79,26 for barrel. The cost of the future for WTI for October at the electronic trading of the New York Mercantile Exchange (NYMEX) has decreased by $0,52 (0,74%) by this time - up to $69,85 for barrel. Following the results of the auction on Wednesday contracts for Brent have risen in price for $0,68 (0,86%) - up to $79,74 for barrel, during the session the price rose higher than $80 for barrel whereas WTI has added $1,12 (1,62%) and cost $70,37 for barrel. According to the official data of the U.S. Department of Energy published on Wednesday, reserves of oil have dropped by 5,3 million barrels in a week which has come to the end on September 7. As it was reported, in the USA have said that for the first time in 45 years became the world leader in oil production. Earlier it was expected that the USA will be able to leave in world leaders in oil production in 2019. News from the Correspondent.netv of Telegram. Subscribe for our https://t.me/korrespondentnet channel

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