Friday , May 14 2021

Oil retailers at OPEC Supply lowered prices after US fuel stocks fell



Canada's oil platform. Reuters photo

Oil prices are fueling concerns that US oil production will come down. After oil prices fell to $ 147.27 a barrel was almost 75 per cent lower.

Brent crude for February delivery fell 50 cents to $ 66.62 a barrel. American futures rose 21 cents to $ 56.46 a barrel.

US crude futures were the single biggest coin in Tuesday's three-year period. It is a huge demand for global demand.

US crude oil inventories last week surged to 10.3 million barrels. It is the biggest achievement since February 2017. According to Reuters data, the US Energy Conservancy estimates that the country's production of 3.2 million barrels was expected.

Gasoline Infineries has dropped 1.4 million barrels. Protein goods fell by 3.6 million barrels.

The price of crude oil has helped increase crude prices by more than expected in crude oil markets, said Phil Flin, an expert at the Pritzewater Coopers group in Chicago.

Figures from Petroleum Exporting Countries (OPEC) are projected to grow to 1.4 million barrels next year. Oil prices are falling between 2014 and 2016.

Vajidi Al Alfie prepared for Arabic publication


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