Moscow. January 26. Oil prices lower on Tuesday morning in anticipation of the publication of the data about fuel stocks in the U.S. market, according to the Bloomerg Agency.
The price of the March contract for Brent crude on London’s ICE Futures exchange to 8:00 Moscow time fell by 2% to us $29,88 per barrel.
The quotation of futures for WTI crude oil for March delivery in electronic trading on the new York Mercantile exchange (NYMEX) decreased by this time by 2.3% – to $to 29.63 per barrel.
ExxonMobil, the largest by market capitalization energy company in the world, reduced on Monday its forecast average annual growth in energy demand in China for 2016-2025 to 2.2%, according to The Wall Street Journal.
Last year energoresursov consumption in China increased by only 0.9% on the backdrop of a slowdown in the country’s economy growth to 6.9%, the lowest in 25 years.
National oil Corporation of Saudi Arabia Saudi Arabian Oil Co. (Aramco) does not intend to reduce investments in oil and gas projects despite fall in oil prices, said the head of the company Khalid al-falih. Aramco are able to reduce costs by reducing operating costs.
In addition, on Monday, OPEC Secretary General Abdullah al-Badri reaffirmed the cartel’s position, which is that the organization would cut production only if similar measures will take the country-oil producers outside the cartel.
According to his forecasts, this year oil demand will grow by 1.3 million barrels per day, while production of fuel from countries outside the cartel will be reduced to 660 thousand b/d.