texoil228121

Sell oil again

     Oil quotes opened bids with a gap of more than half a dollar. The record report of the American Petroleum Institute was the cause for this decline, which showed an increase of hydrocarbons in US storages by 14 million barrel. In this regard, Brent Oil Futures appeared below $55 per barrel, WTI now trading just above $52.
 
     Although the API report is considered not official information, and its data are sometimes different from the EIA, but today the publication of data by the US Energy Information Administration of could show the similar value, and it gives a new impetus to the decline of oil prices. Increased activity of shale drillers in North America, accompanied by an increase in the number of drilling rigs, in the end it should would lead to an increase in production, so the growth of oil reserves is a natural fact.
 
     Another news which in the future may put pressure on oil quotes was advertisement about detecting in Iran new large oil and gas field. The amount of the deposit is estimated at 15 billion barrels, which allow the Tehran to significantly increase the black gold production.