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Oil fired from Venezuela and abundant production in the United States



New York (AWP / AFP) – Oil prices ended unorganized on Thursday, recklessly between the impact of the Venezuelan crisis and a new figure that confirmed the rapid increase in the production of black gold in the United States.

Brent North Sea for March delivery, which is the last day of trading, rose to 24 cents to finish at $ 61.89 at the Intercontinental Exchange (ICE) in London. During the month he received 15%.

On the New York Mercantile Exchange (NYMEX), a barrel of light sweet crude oil (WTI) for the same maturity brought 44 cents to finish at $ 53.79. However, in January it increased by 18.5% after three consecutive months of decline.

In recent days, US sanctions against the Venezuelan oil company PDVSA have prompted US oil prices to rise to 506,000 barrels per day, according to the agency. The American Energy Information System (EIA).

"We can expect US oil refineries to hurry to other sources of crude oil," which will increase prices, commented ANZ analysts.

Prices were also used by weekly data on US oil reserves released on Wednesday: the raw stock has risen to 900,000 barrels a week that ended on January 25, which is much lower than expected gasoline analysts down 2.2 million barrels .

However, the WTI barrel returned Thursday after announcing an increase in US production in November to 11.9 million barrels a day on average, 3% more than the previous month and 18% more than in November 2017.

"Even if these data are a little old, it confirms that oil production in the country is growing much faster than we assumed," John Kilduf of the repurchase capital said.

Crude oil prices have also been weakened by renewed questions about ongoing talks between Beijing and Washington after tweeting by the US president, saying no final agreement will be reached before the "near future" meeting with Chinese President Xi Jinping .

"We now know that trade tensions have a real effect on the Chinese economy, measuring all the energy consumption in the country," he said. And the sooner an agreement will be reached, the more they will continue.

Bur-jum / alb / DGA


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