Arab Today, arab today oil prices retreat as saudi pumps extra oil
Last Updated : GMT 20:03:59
Arab Today, arab today
Arab Today, arab today

Oil prices retreat as Saudi pumps extra oil

Arab Today, arab today

Arab Today, arab today Oil prices retreat as Saudi pumps extra oil

Oil prices
London - AFP

Oil prices fell on Monday as Saudi Arabia said it was pumping more oil, exacerbating a global supply glut, analysts said.
US benchmark West Texas Intermediate for delivery in May fell 37 cents to $46.20 a barrel compared with Friday's close.
Brent North Sea crude for May dipped five cents to stand at $55.28 a barrel in London midday deals.
"Selling pressure was generated in particular by statements made at the weekend by the Saudi Arabian oil minister," said Commerzbank analyst Carsten Fritsch.
Bloomberg News quoted Saudi Arabia's oil minister Ali al-Naimi as saying on Sunday that his country is producing almost 10 million barrels of crude a day.
Saudi Arabia, the main producer in the Organization of the Petroleum Exporting Countries, pumped 9.85 million barrels a day in February, according to Bloomberg.
He meanwhile has called on oil producers outside OPEC to help boost falling crude prices as the cartel refuses to take responsibility alone.
"We refuse to take responsibility alone because (OPEC) produces 30 percent of market output and 70 percent comes from outside," Naimi said in remarks carried Monday by the Saudi Press Agency (SPA).
New York prices slumped by about 60 percent between June and February, weighed down by a glut of global supplies and concerns about stalling demand.
The slide was exacerbated in November when OPEC refused to cut production to rescue falling prices, with analysts saying the cartel wanted to maintain its market share amid surging US output.
Crude futures had won a boost Friday from another fall in the dollar and market adjustment at the end of the April contract for WTI, analysts said.
The US benchmark West Texas Intermediate for delivery in April had added $1.76 to $45.72 a barrel in New York trade.

 

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 oil prices retreat as saudi pumps extra oil Arab Today, arab today oil prices retreat as saudi pumps extra oil

 



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 oil prices retreat as saudi pumps extra oil Arab Today, arab today oil prices retreat as saudi pumps extra oil

 



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 Taxi! Transport gets an overhaul

GMT 12:09 2017 Sunday ,24 September

Taxi! Transport gets an overhaul
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 Turkey warns of 'security' steps

GMT 12:17 2017 Sunday ,24 September

Turkey warns of 'security' steps
Arab Today, arab today North Korea 'more opaque'

GMT 10:50 2017 Sunday ,24 September

North Korea 'more opaque'
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 'Lady Beast' fights for girl gamers

GMT 10:27 2017 Sunday ,24 September

'Lady Beast' fights for girl gamers
Arab Today, arab today Psychologists help Mexico deal

GMT 05:05 2017 Sunday ,24 September

Psychologists help Mexico deal
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 Third generation adds more power

GMT 13:40 2017 Sunday ,24 September

Third generation adds more power
Arab Today, arab today Carmakers face billions in European

GMT 12:37 2017 Saturday ,23 September

Carmakers face billions in European
Arab Today, arab today Lebleba is preoccupied in filming 'Back Street'

GMT 08:56 2017 Thursday ,21 September

Lebleba is preoccupied in filming 'Back Street'
Arab Today, arab today Big Western brands polluting oceans

GMT 20:10 2017 Saturday ,23 September

Big Western brands polluting oceans

GMT 08:59 2017 Wednesday ,20 September

Youssra prepares for launching her program

GMT 10:16 2017 Friday ,22 September

All eyes on May as she prepares

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 12:01 2017 Wednesday ,20 September

Puerto Rico, Virgin Islands brace

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 18:11 2017 Saturday ,23 September

Doctor provides advices to families

GMT 13:36 2017 Saturday ,23 September

unveils Joon - the 'millenials' airline

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:46 2017 Thursday ,21 September

Google likely to buy stake in Taiwan smartphone maker HTC

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