Jakarta, cartitleloans Indonesia
–
Price
crude oil
The world declined in Thursday’s trading (4/9) after the organization of oil exporting countries and its allies (
OPEC+
) Consider increasing production targets again.
Brent -term crude oil dropped 27 cents or 0.40 percent to US $ 67.33 per barrel.Meanwhile, West Texas Intermediate US crude oil fell 28 cents or 0.44 percent to US $ 63.69 per barrel.
Eight OPEC+ members considered further increase production in October at this weekend meeting.
This was revealed by two speakers who knew OPEC +’s plans to Reuters.This step was taken because the group tried to regain market share.
Previously, OPEC+ had agreed to increase the production target of around 2.2 million barrels per day from April to September, in addition to an increase in quota by 300 thousand barrels per day for the United Arab Emirates.
Over the past few months, despite increasing production, the price of Middle Eastern oil remains the strongest regional price globally.
This has strengthened the beliefs of Saudi Arabia and other OPEC members to increase production, according to Haitong Securities reports.
Market participants are now waiting for government data regarding US crude oil stock.
US crude oil stock rose by 622,000 barrels in the week ended on August 29, according to market sources, quoting the American Petroleum Institute (API) data on Wednesday.
Estimated fire for increasing US crude oil stock is contrary to the analyst surveyed by Reuters who estimates, on average, that the supply of US crude oil drops by 2 million barrels.
[Gambas: cartitleloans video]
(PTA)
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