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Oil spilled between Venezuela and abundant production in the US



New York (AWP / AFP) – On Thursday, oil prices ended in disorderly fashion, delaying the impact of the Venezuelan crisis and a new figure confirming the rapid growth of black gold production in the United States.

Brent North Sea Crude Oil in March, the last trading day, rose by 24 cents to finish at $ 61.89 in the Intercontinental Exchange (ICE) in London. Within a month he scored 15%.

The New York Mercantile Stock Exchange (NYMEX) barrel of lightweight crude oil (WTI) created 44 cents for the same term to complete $ 53.79. However, in January it has increased by 18.5% after three consecutive months.

In recent days, US sanctions against the Venezuelan state-owned oil company PDVSA led the US to raise oil prices to 506,000 barrels per day, according to the agency. American Energy Information System (EIA).

"We can expect US oil refineries to hurry into other sources of crude oil," which added to the price, commented ANZ analysts.

Prices also benefited from weekly data on US oil reserves released on Wednesday: stocks of raw materials increased by 900,000 barrels a week, ending on 25 January, much lower than expected analysts dropped by 2.2 million barrels.

However, the WTI drum fell on Thursday after the announcement of an increase in US production growth in November to an average of 11.9 million barrels per day, up 3% on the previous month and 18% on November 2017. t

"Even though these data are a bit old, it confirms that oil production in the country is growing much faster than we thought," said John Kilduff from the investment company "Again Capital".

Crude oil prices have also been weakened by the renewed issues of current talks between Beijing and Washington following the US President's announcement that the final agreement will not be reached before the "near future" meeting with Chinese President Xi Jinping.

"We now know that trade tensions actually affect the Chinese economy, weighing all the country's energy consumption," he said. And the sooner an agreement is reached, the more they will remain.

bur-Jum / alb / DGA


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