The futures price of “black gold” has fallen off the growing oil production in the United States.
Thursday, may 4, the price of oil sharply dropped amid rising production in the United States. Experts believe that the second major reason was fears that efforts by OPEC to reduce production was not enough to reduce the world’s fuel reserves,according to
On the London stock exchange the contract for oil Brent with delivery in July at 17.00 Kyiv fell by 1.12 (2,22%) – to remaining 49.67 per barrel. In turn, the cost of the futures on WTI crude oil for June trading on the new York Mercantile exchange declined by 1.1 (2.3 percent) to $ 46.72 USD per barrel.
It should be noted that both the reference brand of oil fell to its lowest level since 30 November 2016, when OPEC after a long debate agreed to sign agreements on limitation of production of “black gold”. Experts doubt that these measures will suffice to eliminate surplus on the market.
The decline in oil prices bolnee only affect the Russian economy, because it is more are exponential “sharpened” under the sale of oil and gas.
It is known that the United States continue to increase production for 11 consecutive weeks, reaching all-time high from August 2015.
Recall that the United States has expressed willingness in the legislature to broneodezhda from the Russian, including oil production in Russia.