• Oil is trading lower

Market news

14 November 2016

Oil is trading lower

This morning, the New York futures for Brent dropped 0.48% to $ 43.20 and WTI fell 0.36% to $ 44.59 per barrel. Thus, the black gold is traded in the red zone on the background of an increase in production in the OPEC countries, as well as an increase in the number of drilling rigs in the United States. Recall Friday, the cartel said that in October, oil production was higher by nearly 240 thousand barrels per day as compared to September, up to 33.64 million barrels per day. On Thursday, November 10, the International Energy Agency (IEA) also stated that total production of oil increased 230 thousand barrels per day as compared to September, to a record high of 33.83 million barrels per day.

Market Focus
Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimer
Open Demo Account & Personal Page
I understand and accept the Privacy Policy and agree to my name and contact details being used by TeleTrade to contact me about this.