The Briefing Room

General Category => Science, Technology and Knowledge => Energy => Topic started by: Smokin Joe on May 03, 2016, 05:52:49 pm

Title: Oil down 3 percent on OPEC output hike, speculative ramp-up in Brent
Post by: Smokin Joe 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 (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)