Arab Today, arab today crude prices deepen losses amid weak demand forecast
Last Updated : GMT 17:20:02
Arab Today, arab today
Arab Today, arab today

Crude prices deepen losses amid weak demand forecast

Arab Today, arab today

Arab Today, arab today Crude prices deepen losses amid weak demand forecast

Crude price fell to fresh
Beijing - XINHUA

Crude price fell to fresh lows on Friday after the International Energy Agency (IEA) lowered its global demand outlook.
Light, sweet crude for January delivery moved down 2.14 U.S. dollars to settle at 57.81 dollars a barrel on the New York Mercantile Exchange, the lowest since May 2009. Brent crude for January delivery lost 1.83 dollars to close at 61.85 dollars a barrel.
In its Oil Market Report for December, the IEA cut the outlook for 2015 global oil demand growth by 230,000 barrels per day (kb/d) to 0.9 million barrels per day (mb/d) on expectations of lower fuel consumption in Russia and other oil-exporting countries.
Oil prices have lost more than 40 percent since June amid a supply glut. Meanwhile, a strong dollar has limited supportive price effects on demand, which is now seen reaching 93.3 mb/d next year, from 92.4 mb/d in 2014, the report added.
Global production fell by 340 kb/d in November to 94.1 mb/d on lower OPEC supplies. Annual gains of 2.1 mb/d were split evenly between OPEC and nonOPEC producers.
Surging U.S. light tight oil supply looks set to push total non OPEC output to record growth of 1.9 mb/d for 2014, but the pace is expected to slow to 1.3 mb/d for next year. According to the Energy Information Administration, U.S. crude production reached 9. 12 million barrels per day for the week ended Dec. 5.
OPEC, which pumps a third of the world's crude, maintained its collective production ceiling of 30 million barrels a day on a meeting in Vienna on Nov. 27.
Kuwait, the third largest producer of OPEC, lowered its January crude price to Asian customers Wednesday, becoming the third OPEC member to offer discounts after Saudi Arabia and Iraq. Traders thought the price competition from crude producers will drag the prices even lower.

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today crude prices deepen losses amid weak demand forecast Arab Today, arab today crude prices deepen losses amid weak demand forecast

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today crude prices deepen losses amid weak demand forecast Arab Today, arab today crude prices deepen losses amid weak demand forecast

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today Egypt tourism revival steady but slow

GMT 16:04 2017 Tuesday ,19 September

Egypt tourism revival steady but slow
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today 600,000 children may flee to Bangladesh

GMT 06:49 2017 Monday ,18 September

600,000 children may flee to Bangladesh
Arab Today, arab today Equifax executives step down

GMT 16:16 2017 Saturday ,16 September

Equifax executives step down
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today New Zealand opposition looks

GMT 10:35 2017 Thursday ,14 September

New Zealand opposition looks
Arab Today, arab today 5,000 'Dieselgate' deaths in Europe per year

GMT 19:18 2017 Monday ,18 September

5,000 'Dieselgate' deaths in Europe per year
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Five trends at the Frankfurt auto show

GMT 12:04 2017 Monday ,18 September

Five trends at the Frankfurt auto show
Arab Today, arab today Renault-Nissan to launch

GMT 10:44 2017 Saturday ,16 September

Renault-Nissan to launch
Arab Today, arab today Eman Al Assy receives three offers

GMT 06:31 2017 Saturday ,16 September

Eman Al Assy receives three offers
Arab Today, arab today 'Severe' Typhoon Doksuri pounds Vietnam

GMT 15:49 2017 Friday ,15 September

'Severe' Typhoon Doksuri pounds Vietnam

GMT 11:10 2017 Friday ,15 September

Fadl Shaker retreats from surrendering himself

GMT 05:05 2017 Tuesday ,12 September

Pregnant woman's suicide roils China

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 10:25 2017 Thursday ,14 September

Greece fumbled oil spill response

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 04:45 2017 Sunday ,17 September

France's hurricane-hit St Martin

GMT 21:57 2017 Sunday ,17 September

Russia and Iraq restore air travel

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:56 2017 Friday ,15 September

Apple's grand plan in Ireland held up by a forest

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday