Sunday , March 7 2021

The turnaround plans of the store led to oil prices



Oil prices have fallen after the Monday meeting in the OPEC Oil Cartel and Twitter reports from US President Donald Trump on oil stocks.

On Tuesday night, the price of North Sea oil was just over $ 65 per meal, which is a major downturn compared to the October high of $ 87.

The fall was after Opec released new forecasts for a drop in demand in 2019 on Tuesday, stating that Saudi Arabia and other oil countries plan to slow down production, the Financial Times reports.

"There is no doubt that production has to be reduced, because it is overproduction," says Carsten Fritsch Commerzbank in the newspaper.

The second autumn drop has slightly increased on Monday, when Saudi Arabia, the world's largest oil producer, announced a decline in production.

The US president was in the first half of Monday evening and questioned what he was thinking of cuts. Hopefully, not Saudi Arabia or OPEC oil production. Based on deliveries, prices would be much lower, he wrote.

"Twitter-may-president, weakened Saudi Arabian crown prince and obscure oil investors contribute to lower oil prices," says analyst analyst Bjarne Schieldrop in DN.

He believes that the fall in prices may also be explained by an increase in oil stocks in the US, where the price of American light oil prices has fallen to a low level.


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