Monday , February 6 2023

The oil is still in a tail and 10% reduction per week



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Oil prices fell on Friday. This led to a 10 percent drop in investment over a week.

Brent barrel price dropped by 47 kopecks (0.86%) to $ 53.88, while the US dollar was down by 19 cents or 0.41% to $ 45.69. barrel

Crude oil and other markets have dropped due to investors' concerns about the health of the global economy when a new year begins. The United States, the largest consumer of crude oil, may face the government's philosophy if it can not agree on releasing federal funds on Friday.

Since the beginning of October has many years of elevation, both oil refiner costs have lost one-third, and the worst one in three years.

One of the reasons for this is permanent durability before it emerges Thanks to the transparency industry, the United States is the world's largest crude oil producer.

The United States now supplies 11.6 million barrels of crude oil, which is currently ahead of Saudi Arabia and Russia.

The oil exporters of the Organization of the Petroleum Exporting Countries (OPEC), which gives priority to the energy exports of the Persian Gulf countries in the Middle East, have declined production to stop prices.

The cuts that the other manufacturers like OPEC and Russia do not take until 1.2 million barrels in January, and inventories are rapidly increasing.

OPEC is planning to extend production quotas for members and allies like Russia in order to reduce the supply. OPEC Secretary General Mohammad Barkindo, Reuters

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