USA has destroyed the hopes of OPEC and Russia on high oil prices – prices fell to three-month low
In trading on the world market on the morning of Monday, March 13, the price of oil fell to the lowest in the last three months performance.
Futures on Brent crude fell by 0.64% to of 51.04 per barrel. Futures on American WTI crude oil was trading at 48,10 dollar, 0.8 percent below the previous close of trading. About it writes Reuters.
The reason for the decline is the increase of drilling rigs in the US last week to eight units – up to 617 years. According to oilfield services company Baker Hughes, the highest level since September 2015. A year ago in the United States drilling rigs was 386.
Reserves growth and drilling activity in the U.S. undermine the efforts of OPEC and the countries not included in neftekachalki, including Russia, which earlier agreed to cut oil production by about 1.8 million barrels per day in the first half of 2017.
See also:
Offshore oil and gas field in the Crimea gave to the firm, which is associated with Kurchenko
“Given the fact that the market is still digesting a significant rise in inventories, oil prices today are likely to remain under pressure,” ANZ Bank analysts predict.
The oil reserves in the U.S. last week rose by 8.2 million barrels to 528,39 million barrels. Analysts predicted an increase of only 2 million barrels.
“This week is filled with events that can potentially affect the market. But the key (of them) will react (market) rate hike of the Federal reserve system (private banking system in the United States, serving as the Central Bank),” – said the expert, Michael McCarthy from CMC Markets.