Oil is cheaper on data on growth in US stocks

Oil is cheaper on data on the growth in US stocks

Oil prices
fall on Wednesday. By 11:45 futures on WTI
fell 1.51% to $ 45.59
per barrel; Brent with
December delivery lost 0.8% and stands
$ 48.32.

decline began
during the American session, after
American Institute of output data
oil on stocks of “black gold” in the United States.
Reserves increased more than expected:
growth per week was 7.1 million barrels,
against the forecast of 3.9 million. Today the markets
waiting for official data on inventory
from the Energy Information Administration,
but it is unlikely they will be more
encouraging. It inflates fears
of global overproduction and crushes
on oil prices, even taking into account slightly
the weakened dollar.

Oil reserves in
US grows a fourth consecutive week.
This growth is the result of
refineries to falling demand
plants, many of which are
after-sales service car
season and therefore does not operate at full
power.

In the spotlight
Investors this week – and even the outcome of
today’s meeting of oil experts
at the technical meeting between the two countries
OPEC and producers outside the
cartel. However, do not expect the meeting
no sensations. It is unlikely that major
manufacturers have agreed to reduce their
“black production prices in the name of growth
gold “: at least, not Saudi
Arabia or Russia do not show similar
aspirations.

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