ABOUT US  |  CONTACT US  |  RSS  |  ARCHIVE  |  2020-01-18  |  UPDATED: 1398/10/28 - 00:10:2 FA | AR | EN
90% of black Americans disapprove of Trumpís job performance: Poll            6 US Jets Were Near Iran Border at Time of Accidental Shoot-down of Ukraine Plane: Russia             Trumpís ďNATOMEĒ Idea: Goals, Outlook?             EU Brexit spokesman says Britain assured him about those who do not apply for settled status             EU warns of WTO challenge if US-China deal harms businesses             Guatemala cuts ties with Venezuela in kowtow to US             US assassination of General Soleimani was Ďimmoral actioní: New York Times             The case for ... making low-tech ídumbí cities instead of ísmartí ones             Riyadh pays $500 million to cover cost of US troopsí presence in Saudi Arabia: Report             US military says 11 US troops wounded in Iranian missile attack despite earlier denials             Ayatollah Khamenei: US disgraced after assassination of Gen. Soleimani             US, Taliban Discuss Signing of Peace Deal: Shaheen             Qureshi Urges US to Remain Engaged in Rebuilding Afghanistan             Around 350,0000 people have fled Syriaís Idlib since Dec. 1: UN             Russian parliament unanimously approves Mikhail Mishustin as prime minister            

DATE PUBLISHED: 2015/5/6 - 07:22:08
VISIT: 1165
SHARE WITH YOUR FRIENDS

Oil prices up as market struggles to remain strong
Oil prices up as market struggles to remain strong

Oil prices have grown as the market struggles to build on last months’ strong gains, following sharp falls earlier in the year.

North Sea Brent crude for delivery in June traded $59.49 a barrel, up 56 cents, while US benchmark West Texas Intermediate (WTI) won 56 cents to $59.49 a barrel on Tuesday.

In April, oil prices grew by nearly a fifth after dropping sharply at the start of the year. The main factors behind these changes were concerns about Yemen unrest, the weakening dollar and decline in US rig count.

However, oil prices stand very low after losing almost 60 percent of their value between June 2014 and the start of 2015 mainly due to a global supply glut and enhanced production.

"Crude oil producers in the US have significantly cut back output in an attempt to address the significant supply overhang which has exerted downward pressure on... prices since June last year," AFP quoted Kash Kamal, senior research analyst at Sucden brokers, as saying.

The International Monetary Fund (IMF) has said that oil exporters in the Persian Gulf must cut spending, including subsidies, and diversify their economies to cope with lower revenues resulting from the sharp drop in oil prices.

The IMF Middle East and Central Asia chief Masood Ahmed called on the wealthy Arab monarchies to "not react in a knee-jerk way to lower oil prices."

"Saudi Arabia seem committed to defending their market share and have even increased output to over 10 million barrels per day in April," AFP quoted Kamal as saying.

"Support for higher crude prices has partly come from a weaker dollar," said Kamal.

Some analysts argue that the oil market is oversupplied, with producers of the Organization of the Petroleum Exporting Countries (OPEC) pumping almost 2 mb/d above demand.

The 12-member oil producer group meets next month to discuss production policy.

 

LINK: https://www.ansarpress.com/english/3533






*
*

*



SEE ALSO

US, China sign ímomentousí trade deal


US budget deficit tops $1 trillion in 2019


New Boeing chief executive takes over with 737 max crisis unresolved


Trumpís tariffs on imports backfired, caused job losses and higher prices: Fed study


Document: MoF Asks Govt-Run Bank to Pay Taxes in Advance


Trump approves sanctions against Russia-Europe gas pipeline


Ghani Orders Termination of Gold, Copper Mining Contracts


US-China trade friction sends European shares lower


Oil prices jump following suspected attacks on two oil tankers in Sea of Oman


US mulls new sanctions to kill Iran-EU trade vehicle





VIEWED
MOST DISCUSSED







POLL

Modi, Merkel Discuss Afghanistan, Radicalisation And Terrorism

SEE RESULT


LAST NEWS

US relaxes firearms export rules, raises sales by 20%

90% of black Americans disapprove of Trumpís job performance: Poll

6 US Jets Were Near Iran Border at Time of Accidental Shoot-down of Ukraine Plane: Russia

Trumpís ďNATOMEĒ Idea: Goals, Outlook?

EU Brexit spokesman says Britain assured him about those who do not apply for settled status

EU warns of WTO challenge if US-China deal harms businesses

Guatemala cuts ties with Venezuela in kowtow to US

US assassination of General Soleimani was Ďimmoral actioní: New York Times

The case for ... making low-tech ídumbí cities instead of ísmartí ones

Riyadh pays $500 million to cover cost of US troopsí presence in Saudi Arabia: Report

US military says 11 US troops wounded in Iranian missile attack despite earlier denials

Ayatollah Khamenei: US disgraced after assassination of Gen. Soleimani

US, Taliban Discuss Signing of Peace Deal: Shaheen

Qureshi Urges US to Remain Engaged in Rebuilding Afghanistan

Around 350,0000 people have fled Syriaís Idlib since Dec. 1: UN

Russian parliament unanimously approves Mikhail Mishustin as prime minister

Spainís prime minister to meet with Cataloniaís president

Tehran now enriching more uranium than before 2015 deal: Iranís Rouhani

Russiaís ruling party approves Putinís candidate for prime minister

Trump impeachment articles delivered to Senate

Economic shocks of rising sea levels threaten sovereign credit ratings: Moodyís

Zarif: Europeans sold out remnants of Iran deal to appease Trump

White House abruptly cancels Iran briefings amid contradictions

Turkey Ďnot pessimisticí about ceasefire in Libya but wary of Haftar

Trump administration slammed for lying over Afghan war

Lebanese continue protests, demand release of detainees

Relief as rain falls over Australian bushfires

US, China sign ímomentousí trade deal

US Officials Routinely íLiedí Over Afghan Progress: Sopko

Qureshi: Taliban íReady for Reduction of Violenceí

Activists sue German government over lack of action on climate change

Sadr Calls for ĎMillion-Man Marchí against US Military Presence in Iraq

When Life Imitates Art

Pelosi names Trump nemesis Schiff íleadí impeachment manager

Turkey summons Egyptís charge díaffaires over raid on Anadolu office

Zarif rejects UK PMís proposal for new ĎTrump dealí to replace JCPOA

íLyingí Trump could spark war with Iran: Bernie Sanders

Long-Bailey announces groundbreaking initiative on Islamophobia

Rouhani: Withdrawal from region serves US own interests, restores regional security

Delta flight dumps fuel on Los Angeles school, 26 treated for minor injuries


MEDICAL NEWS








ANSAR PRESS ©  |  ABOUT US  |  CONTACT US  |  MOBILE VERSION  |  LINKS  |  DESIGN: Negah Network Co.
All right reserved. Use this website by mentioning the source (link) is allowed. ›—ś‘ź«Ś «یš —š ی šŕŠ»šŌ«š