Oil Falls With Lower Demand And US Crude Settles Support Of Rigs Data
Singapore – Oil Falls With Lower Demand And US Crude Settles Support Of Rigs Data; Oil prices fell on Monday in Asian markets due to the decline in demand pressure on the markets despite the fact that the US price of oil futures received some support from the decline in the number of US rigs.
And we went down the price of Brent crude oil futures for the month of 29 cents to $47.85 a barrel 06:49 GMT, although the stability of US crude futures at $44.62 without registration, little changed from the price of crude in the last adjustment.
The decline in the number of US rigs increased by ten platforms to the 652 platform last week, recording the second weekly decline in a row at a time when reserves fell in the main oil storage depot in Cushing in Oklahoma for five of the last seven weeks to record US crude higher bonus price in the spot contracts in several years in exchange for crude prices in the futures.
She said the International Energy Agency that the ongoing production cuts will lead to a rebalancing of the market by next year.