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Oil is trading in the red zone
This morning the New York futures for Brent fell by 0.3% to $ 55.80 and WTI fell 0.49% to $ 52.94. Thus, the price of black gold trading lower on the background of investors' doubts about production cuts. Recall that Russia and OPEC decided to cut production by 1.8 million barrels / d in the first half of '17. In January, the delivery of these countries have fallen to the level of 29.888 million barrels / d. Today, the market is waiting for the publication of statistics from the US Energy Information Administration.
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