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Author Topic: Oil down 3 percent on OPEC output hike, speculative ramp-up in Brent  (Read 1185 times)

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Offline Smokin Joe

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Oil down 3 percent on OPEC output hike, speculative ramp-up in Brent
« on: May 03, 2016, 05:52:49 pm »
Oil prices fell about 3 percent on Monday as production from the Organization of the Petroleum Exporting Countries neared all-time peaks and record speculative buying in global benchmark Brent sparked profit-taking on last month’s outsized rally.

OPEC’s crude production climbed in April to 32.64 million barrels per day, close to the highest in recent history, a Reuters survey showed.

Iraq’s April exports

http://www.oilandgas360.com/oil-3-percent-opec-output-hike-speculative-ramp-brent/?utm_source=Closing+Bell+Report&utm_campaign=ad21ded1e6-Closing_Bell_RSS_Campaign&utm_medium=email
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How God must weep at humans' folly! Stand fast! God knows what he is doing!
Seventeen Techniques for Truth Suppression

Of all tyrannies, a tyranny sincerely exercised for the good of its victims may be the most oppressive. It would be better to live under robber barons than under omnipotent moral busybodies. The robber baron's cruelty may sometimes sleep, his cupidity may at some point be satiated; but those who torment us for our own good will torment us without end for they do so with the approval of their own conscience.

C S Lewis
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