World oil prices drop, investors remain concerned about the overabundance of raw materials on the market after the news about the growth in OPEC production.
On the morning of 3 October, the price of December futures for North sea petroleum mix of mark Brent has fallen to 55,91 dollars per barrel, the price of November futures for WTI â€“ to 50.46 per barrel.
The dollar index grew by 0.22% to 93,84 points. In the course of trading on Monday, oil both brands became cheaper by 2-3%.
Reuters survey: OPEC oil production for September grew by 50 thousand barrels per day amid rising Iraqi exports and increasing production in Libya, not included in the OPEC agreement+ on the reduction of oil production. The level of compliance of the transaction OPEC+ in September decreased to 86% from 89% in August, the study showed.
According to analysts, oil production in September increased by 120 thousand barrels per day compared with August to 32.83 million barrels a day, and the level of compliance of the transaction OPEC+ decreased to 82% from 88%.
As reported, during the two years of the terrorist organization “Islamic state” have reduced their income from the sale of oil by 90%. Previously, revenue from oil accounted for half of the income of terrorists, the other half of IG provided by looting.