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Oil burned between Venezuela and rich production in the US



New York (AWP / AFP) – Oil prices ended unproductively on Thursday, hesitant between the impact of the Venezuelan crisis and a new figure confirming the rapid rise in black gold production in the United States.

The Brent oil price in Brent in March, the last day of trading, rose 24 cents to 61.89 USD at the Intercontinental Exchange (ICE) in London. In the month he gained 15%.

The New York Mercantile Exchange (NYMEX) stock has reached a barrel of lightweight raw materials (WTI) with the same maturity of 44 cents to $ 53.79. But in January, after three consecutive months of decline, they increased by 18.5%.

In recent days, American sanctions against the Venezuelan state oil company PDVSA have caused oil prices in the US to rise to 506,000 barrels per day, according to the agency. American Energy Information System (EIA).

"We can expect US refineries to plunge into other oil resources," which would raise prices, ANZ analysts said.

Prices also benefited from weekly US oil reserves released on Wednesday: oil stocks grew by 900,000 barrels in the week ending 25 January, much lower than expected by gas analysts down 2.2 million barrels.

The WTI nuclear power station declined on Thursday after it reported an increase of US production to 11.9 million barrels per day in November, 3% more than in the previous month and 18% more than in November 2017.

"While this data is a bit old, it confirms that oil production in the country is growing much faster than we imagined," said John Kilduff of the investment firm Again Capital.

Raw prices have also been weakened by renewed questions about ongoing negotiations between Beijing and Washington after the US president announced that China's President Xi Jinping will not reach a final agreement before meeting "in the near future".

"We now know that business tensions have a real impact on the Chinese economy and weighs all energy consumption in the country," he said. And the sooner the deal is reached, the more it will persist.

Bur-jum / white / DGA


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