- Analytics
- News and Tools
- Market News
- Oil quotes declined about 1%
Oil quotes declined about 1%
Oil prices fell moderately against the background of partial profit-taking, as well as the assumption of OPEC to reduce oil production may encounter obstacles.
Over the weekend, the head of Iraq's state-owned State Oil Marketing Organization (SOMO) Falah al-Amri said that Iraq does not intend to reduce the current level of oil production, which currently stands at 4.7 million barrels per day. He also noted that the volume of oil production in the country is a matter of its sovereignty. He said that Iraq must receive the same privileges as Libya and Nigeria
"The collective reduction in oil production would be more difficult without the participation of Iraq - Gao Jian at analyst SCI International -. There is a risk that Iraq's failure could trigger a domino effect, and other oil producers would also want to be excluded from the plan."
The cost of the December futures for US light crude oWTI (Light Sweet Crude Oil) fell to 50.25 dollars per barrel on the New York Mercantile Exchange.
December futures price for Brent fell to 51.20 dollars a barrel on the London Stock Exchange ICE Futures Europe.
© 2000-2025. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
