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Oil ends up in mess in New York

NEW YORK, Jan. 31 (Reuters) – Oil prices have
ends on Thursday in an unorganized run on the Nymex market in New York,
fighting between announcing the increase in oil production
in the United States in November and falling bid
OPEC in January.

March contract on light crude oil (West Texas
Intermediate, WTI) at 44 cents, or 0.81%, 53.79
dollar for barrels.

Brent had the same luck in his turn
24 cents (0.39%) $ 61.89.

Crude oil production in the United States reached its peak
11.9 million barrels a day (bpd) in November, up
345,000 bpd over a month, the US agency said on Thursday
Energy Information (EIA).

On the other hand, OPEC's oil supply
The biggest drop in January in two years, shows Thursday
Reuters survey, Saudi Arabia, its largest exporter,
limiting pumping more than expected, while Iran was
Libya and Venezuela have suffered a decline in. T
involuntary production.

The organization of the oil exporting countries produced it
30.98 million barrels a day (bpd) this month, or 890,000
bpj less than in December, the most significant decline
record since January 2017.

The investigation shows Saudi Arabia and its allies
The Gulf has more than the respect of the obligations that have been taken to the limit
supply to avoid further market congestion.

(Jessica Resnick-Ault, Patrick Vignal for French Service)

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