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International Oil Prices Fell On The 3rd, $ 49.03 A Barrel For US Oil
Aug 04, 2017

International oil prices fell on the 3rd. "Oil Logistics" consulting company's recent data shows that the crude oil production of the Organization of Petroleum Exporting Countries (OPEC) increased by 145 thousand barrels.

Analysts said that the news showed OPEC and other non-OPEC oil producers poorly implemented on production reduction agreements, which offset the positive impact of US energy demand growth on oil prices. The market worried about the prospects for re-balance of supply and demand of crude oil market, and thus oil prices were in down trend under the pressure..

By the end of the closing day, the New York Mercantile Exchange   The futures price of light crude oil delivering in September fell by $ 0.56 and closed at $ 49.03 a barrel with a decrease of 1.13%. The futures price of London Brent crude oil delivering in October fell by $ 0.35 and closed at $ 52.01 a barrel with a decrease of 0.67%.


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