Investors are still too pessimistic to respond to evidence that commercial oil reserves in the U.S. for the week ended 13 November, rose by 0.3 million barrels, or 0.1% to 487,3 million barrels.
MOSCOW, November 23. World oil prices show a negative trend on Monday amid concerns over the preservation of oversupply of raw materials on the world market, according to AFP.
As at 07.52 GMT the price of January futures for North sea petroleum mix of mark Brent has decreased on 0,46% — to 44,22 dollars per barrel. The price of January futures for oil of mark WTI has decreased on 1,83% — to 41,13 dollars per barrel.
Investors are still too pessimistic to respond to evidence that commercial oil reserves in the U.S. for the week ended 13 November, rose by 0.3 million barrels, or 0.1% to 487,3 million barrels.
“Very high pressure from the large oil reserves in the United States. Markets can only recover if they will see lower inventories in the USA”, — quotes Reuters the words of an analyst on commodity markets NH Investment & Securities Kang Yoo-in (Kang Yoo-jin).
With pessimism investors have apprehended the statement of the Minister of oil of Venezuela, who said Sunday that if OPEC changes its policy, then in 2016 the price of “black gold” can collapse below $ 30 per barrel.
Not help the market and the data of the American oil and gas service company Baker Hughes, which said Friday that the total number of drilling rigs in the U.S. the season ended, the work week was reduced to 10 pieces, or 1.3%, and totalled 757 units.
