Get 40% Off
🎁 Free Gift Friday: Copy Legendary Investors' Portfolios in One ClickCopy for Free

Crude oil falls as July OPEC oil output reportedly set to surge

Published 07/21/2017, 11:06 AM
© Reuters.  Crude oil falls as July OPEC oil output reportedly set to surge
  • Crude oil prices sink, wiping out the week's gains, following a report that OPEC supply will rise this month; WTI crude -1.6% at $46.14/bbl, Brent -1.4% at $48.58.
  • OPEC's July oil supply appears set to rise by 145K bbl/day from June and more than 600K bbl/day over the H1 average, driven by higher output from Saudi Arabia, the UAE and Nigeria, Reuters reports, citing data from PetroLogistics, which tracks OPEC supply forecasts.
  • Oil markets already are anxious ahead of next week's meeting between OPEC and non-OPEC members to discuss compliance of agreed production cuts and how to bring down inventory levels.
  • ETFs: USO, OIL, UWT, UCO, DWT, SCO, BNO, DBO, DTO, USL, DNO, OLO, SZO, OLEM, OILK, WTIU, OILX, WTID, USOI
  • Now read: Faltering Friday - Will Oil Drag The Markets Down In August?


Original article

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.