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Concerns over a global glut of oil

 
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BerichtGeplaatst: 29-08-2018 04:45:09    Onderwerp: Concerns over a global glut of oil Reageren met citaat

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NEW YORK, Dec. 15 (Xinhua) -- Oil prices dropped to a five-year low under fresh selling pressure on Monday as the United Arab Emirates said the Organization of Petroleum Exporting Countries ( OPEC) will not reduce production in response to the slump.


Light, sweet crude for January delivery moved down 1.9 U.S. dollars to settle at 55.91 dollars a barrel on the New York Mercantile Exchange,while Brent crude for January delivery lost 79 cents to close at 61.06 dollars a barrel.


Concerns over a global glut of oil continued to weigh on the market. The crude price has fallen more than 45 percent since June as producers from the United States have ramped up output amid lukewarm energy demand.


U.S. crude production reached 9.12 million barrels per day (bd) for the week ended Dec. 5, according to the Energy Information Administration (EIA). . Wholesale Retro Jerseys Wholesale NHL Jerseys From China Wholesale NFL Jerseys From China Wholesale Authentic Jerseys Wholesale NBA Jerseys Cheap Wholesale MLB Jerseys Free Shipping Wholesale Nike NFL Jerseys Wholesale Soccer Jerseys From China Wholesale Hockey Jerseys Cheap NBA Jerseys
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