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Oil prices continue to decline



During Wednesday's trading, oil prices of reference brands continued to decline. And, at the end of last week, the reasons for the decline in China's demands and the peaceful resolution of the Khashoggi attack, data on the unexpected growth of US stock trades have now been taken over.

January Brent futures on the London Stock Exchange ICE Futures at 17:50 dropped by $ 0.56 (0.93%) – up to $ 59.65 / barrel. The futures price for WTI for the same month on the New York Mercantile Exchange (NYMEX) dropped $ 0.27 (0.52%) to $ 51.29 per dollar / barrel, according to Interfax-Ukraine.

According to the US Department of Energy, oil supplies in the country last week increased by 3.577 million barrels to 401.5 million barrels. Stock growth continued for the tenth week in a row. Taking into account seasonality, the reserves are approaching an average level over five years.

At the same time, oil production in the United States has not changed and reached 11.7 million barrels per day (b / s), a record. Crude oil imports increased by 608,000 b / d (8%) to 8.16m B / d. US oil exports grew by 473k b / d (24%) to 2.44m B / d, which is a new historical maximum.


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