News Formal

Oil Prices Shed Over 3% As Market Digests OPEC Move

  • 📰 OilandEnergy
  • ⏱ Reading Time:
  • 19 sec. here
  • 7 min. at publisher
  • 📊 Quality Score:
  • News: 28%
  • Publisher: 68%

OPEC समाचार

Oil,Oil Production,Oil Demand

Brent crude was trading down well over 3% on Monday, marking the first time the global benchmark has been below $80 since February

, with the U.S. crude benchmark down over 3.5% following the OPEC agreement to start phasing out voluntary cuts in October. On Monday at 1154 a.m. ET, Brent crude was trading down 3.29% at $78.44, for a loss of $2.67 on the day. West Texas Intermediate WTI was down 3.51% at $74.29 per barrel, for a loss of $2.70 per barrel.

Oil prices have responded in a downward spiral due to the fact that the majority of the total cuts from both categories come from the voluntary scheme. Total cuts are 3.66 million barrels per day, while 2.2 million bpd of that is accounted for by the voluntary scheme. Additionally, the UAE’s production quota was adjusted upwards with a baseline of 300,000 bpd.

 

आपकी टिप्पणी के लिए धन्यवाद। आपकी टिप्पणी समीक्षा के बाद प्रकाशित की जाएगी।
हमने इस समाचार को संक्षेप में प्रस्तुत किया है ताकि आप इसे तुरंत पढ़ सकें। यदि आप समाचार में रुचि रखते हैं, तो आप पूरा पाठ यहां पढ़ सकते हैं। और पढो:

 /  🏆 34. in İN

इंडिया ताज़ा खबर, इंडिया मुख्य बातें

Similar News:आप इससे मिलती-जुलती खबरें भी पढ़ सकते हैं जिन्हें हमने अन्य समाचार स्रोतों से एकत्र किया है।

BP Misses Q1 Earnings Forecasts on Lower Oil and Gas PricesBP posted worse-than-expected earnings for the first quarter due to lower oil and gas prices and a refinery outage in the United States.
स्रोत: OilandEnergy - 🏆 34. / 68 और पढो »