Oil continues falling on API data and in anticipation of OPEC meeting

Oil continues falling on API data and in anticipation of OPEC meeting


The trade data indicate that the cost of the January futures for North sea petroleum mix of mark Brent has decreased on 1,32% – to 43,85 USD per barrel. The price of January futures for WTI crude oil fell by 1.04% to 41,41 dollars per barrel.

MOSCOW, 2 Dec. World oil prices continue to decline after the announcement of the American petroleum Institute (API) about unexpected increase in U.S. inventories and on the eve of the OPEC meeting, where the organization will probably once again will keep production quotas, according to AFP.

As at 13.26 GMT the price of January futures for North sea petroleum mix of mark Brent has decreased on 1,32% — to 43,85 USD per barrel. The price of January futures for WTI crude oil fell by 1.04% to 41,41 dollars per barrel.

The survey

What, in your opinion, related to a decrease in oil prices?

  • With increased production
  • The difficult economic situation in the world
  • With the collusion of a number of countries-producers
  • The reason the political situation
  • No answer

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