International market continues to decline in crude prices not subsided. Brent crude was up $ 36.17 ludhak that 2004 is the bottom level.Because of the decline in crude supply worries grow and production is to reach record levels. The fall in crude import economy benefit.
But these crude producing countries drop big trouble. Deepening economic recession in countries such as Venezuela.There, fear of recession brokerage house analyst and harassment.
Started by mid-2014 lowered crude prices two-thirds Down.Besides crude producer to save its big market in production than demand Because expressions which are constantly broken. According to one estimate worldwide compared to daily demand from 5 million barrels daily production by 20 million barrels is much That is because crude stocks increases.
11-year-old lower level Brent crude
Monday's session at $ 36.17 a barrel below Brent crude level of 2 per cent is reached, that is the most bottom level since 2004. Earlier, prices had been trading at lower levels of 2008.
Crude prices fall $ 20 concerns
Goldman Sachs after CLSA also crude falling $ 20 of. June crude production in the us is far from just 4.5 per cent decrease.Where one side Saudi Arabia and Iran dispute is going on there is not even a matter of OPEC is being considered. That is why the crude falling $ 20 CLSA estimates yet.
OPEC produces 42 months on the upper level
40 per cent of total world oil production to the Organization of oil producing countries cause OPEC's November production reaches the upper level 42. According to the statement issued by OPEC during November rose 2.30 million barrels production career planning 3, 16, 9.95 million barrels have been entered. That is the highest production since April 2012.
In the us, crude rose 85 years producing top level is reached.ANZ Bank 4.91 million barrels in u.s. crude production, according to. That is the highest since the 1930s.
Not even the prospect of further deterioration has subsided
International Energy Agency i.e. the IEA has estimated that crude oil supply than demand in the market of year 2016 during May. While on the other hand OPEC Nations increase output from remain constant estimated.In these circumstances, the decline in crude oil prices in the international market may remain.
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