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Oil falls as the US stocks are rising, and OPEC's operating cut is offset; cut cuts





(Reuters)


Post:
Thursday 22 November 2018 – 12:58 PM
| Last Updated:
Thursday 22 November 2018 – 12:58 PM

Oil prices fell on Thursday after the poor US lists up to the highest level since December 2017, among fear of global supply downturn, but the cut in OPEC supplies has prevented further reduction.

It was $ 54.35 barrel, down 28 cents, or 0.5 per cent, from the colonial settlement; before.

Brent song fell 23 cents, not 0.4 per cent, to $ 63.25 barrel in a month.

The Energy Information Administration of the US said in Wednesday's Wednesday report that oil oil records in the United States rose from 4.9 million barrels to 446.91 million barrels last week, the highest level of stock from December last year.

Suspension represents US raw oil at a 11.7 million pd record, according to the Energy Information Administration.

The Petroleum Change Nations (OPEC) Group is responsible for overcoming the prices that have been put forward further.

To report on that, its host is a Consideration of supply cuts at its next meeting on 6 December, although some member states, such as Iran, are opposing any voluntary cuts.


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