- Analytics
- News and Tools
- Market News
- Oil: an overview of the market situation
Oil: an overview of the market situation
Oil fell after U.S. crude stockpiles fell less than analysts projected in a government report and OPEC cut estimates for supplies.
Crude inventories fell 1 million barrels to 358.6 million last week, the Energy Information Administration said. Average forecast of analysts was for 1.5 million-barrel drop.
The Organization of Petroleum Exporting Countries (OPEC) expects it will need to pump an average of 29.2 million barrels a day of crude in 2015, about 200,000 a day less than it forecast in August. The change implies OPEC will need to cut output by about 1.1 million barrels a day from the 30.3 million it produced last month.
WTI for October delivery fell 1.41% to $91.57 a barrel on the New York Mercantile Exchange.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
