Arab Today, arab today crude prices dive after opecs no production cut decision
Last Updated : GMT 21:17:01
Arab Today, arab today
Arab Today, arab today

Crude prices dive after OPEC's no production cut decision

Arab Today, arab today

Arab Today, arab today Crude prices dive after OPEC's no production cut decision

traders come to the conclusion that OPEC will agree not to cut output
New York - XINHUA

Crude prices plummeted to four- year lows on Friday as the Organization of Petroleum Exporting Countries (OPEC) didn't cut its output at Thursday's meeting in Vienna.
The 12-nation cartel, which pumps a third of the world's crude, opted Thursday to keep its collective production ceiling at 30 million barrels per day, where it has maintained for three years .
OPEC said, ample supply, moderate demand, a stronger U.S. dollar and uncertainties about global economic growth have been key factors in this recent price trend. In addition, as OPEC has noted the impact of speculative activity in the oil market has also been an important factor.
In line with this economic outlook, world oil demand in 2015 is forecast to grow by around 1.1 million barrels per day, with total world consumption at around 92.3 million barrels per day, OPEC predicated.
The bulk of this net oil demand growth will continue to come from non-OECD countries. Non-OPEC oil supply is also anticipated to rise next year by 1.4 million barrels per day to average 57.3 million barrels per day.
Analysts regarded the OPEC decision very bearish to crude prices. As the organization keeps production steady, crude prices could fall further.
A report from French bank Societe Generale said, "We are entering a new era for oil prices, where the market itself will manage supply, no longer Saudi Arabia and OPEC."
A trader said that OPEC's decision will ensure a crash in the U. S. shale industry as the prices became unprofitable for some explorers.
Light, sweet crude for January delivery moved down 7.54 dollars to settle at 66.15 U.S. dollars a barrel on the New York Mercantile Exchange, while Brent crude for January delivery lost 2. 43 dollars to close at 70.15 dollars a barrel.

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 dive after opecs no production cut decision Arab Today, arab today crude prices dive after opecs no production cut decision

 



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 dive after opecs no production cut decision Arab Today, arab today crude prices dive after opecs no production cut decision

 



Arab Today, arab today
Arab Today, arab today Designer Aql Faqih aspires to innovation

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation
Arab Today, arab today Malaysia Airlines picks new CEO

GMT 12:54 2017 Saturday ,21 October

Malaysia Airlines picks new CEO
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 Residents get glimpse of Raqa in ruins

GMT 07:10 2017 Saturday ,21 October

Residents get glimpse of Raqa in ruins
Arab Today, arab today Hiring not part of Alibaba pledge

GMT 11:26 2017 Wednesday ,18 October

Hiring not part of Alibaba pledge
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today World's deepest lake in peril

GMT 15:54 2017 Friday ,20 October

World's deepest lake in peril
Arab Today, arab today Ex-French minister Dati wants tough action

GMT 10:54 2017 Thursday ,19 October

Ex-French minister Dati wants tough action
Arab Today, arab today Delhi braces for pollution 'airpocalypse'

GMT 16:07 2017 Friday ,20 October

Delhi braces for pollution 'airpocalypse'
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 EU raids automaker BMW

GMT 11:06 2017 Saturday ,21 October

EU raids automaker BMW
Arab Today, arab today Sweden to get biggest car factory

GMT 14:10 2017 Friday ,20 October

Sweden to get biggest car factory
Arab Today, arab today Actress Mona Zaki praises husband’s role

GMT 08:15 2017 Thursday ,19 October

Actress Mona Zaki praises husband’s role
Arab Today, arab today Massacre fears spark race

GMT 19:09 2017 Thursday ,19 October

Massacre fears spark race

GMT 08:57 2017 Wednesday ,18 October

Actress Shery Adel happy for Egypt’s qualification

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam

GMT 16:00 2017 Wednesday ,18 October

Climate-disrupting volcanoes helped topple

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 09:56 2017 Friday ,20 October

Privacy Groups Warn of Perils

GMT 08:04 2017 Thursday ,19 October

Second US judge orders freeze

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 20:46 2017 Thursday ,19 October

Qualcomm files lawsuits in China to ban iPhones

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha
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