As per MCX www.crudeoperator.com intraday research Mumbai base company report for :
Crude Oil faced first loss in 4 sessions as U.S. output concerns flare up
Oil prices headed lower Monday as concerns over growing U.S. crude production set prices up for their first decline in four sessions. The concerns offset support from a monthly report from the Organization of the Petroleum Exporting Countries which confirmed that the group’s members are largely complying with an agreement to slash crude output. OPEC’s monthly oil report showed that members last month delivered more than 90% of the production cuts that were agreed late last year in an effort to rebalance the oil market. OPEC said oil production fell by 890,000 barrels a day in January compared with December, with Saudi Arabia the biggest contributor to the output reduction. OPEC on Nov. 30 had agreed to cut production from January by 1.2 million barrels a day to end a persistent oil glut. Later in December, Russia and other producers outside the group committed to take 558,000 barrels a day out of the market. The combined cuts would wipe out around 2% of the world’s daily production. But worries about increasing oil production in the U.S., which isn't part of the agreement, continued to pressure prices, particularly after data Baker Hughes on Friday showed that the number of active U.S. rigs drilling for oil, which serves as a proxy for oil activity, rose for a fourth-consecutive week.
MCX CRUDE OIL PURE INTRADAY TIPS CALLS.
https://WWW.CRUDEOPERATOR.COM
CALL OR WHATSAPP : 9022610061
Crude Oil faced first loss in 4 sessions as U.S. output concerns flare up
Oil prices headed lower Monday as concerns over growing U.S. crude production set prices up for their first decline in four sessions. The concerns offset support from a monthly report from the Organization of the Petroleum Exporting Countries which confirmed that the group’s members are largely complying with an agreement to slash crude output. OPEC’s monthly oil report showed that members last month delivered more than 90% of the production cuts that were agreed late last year in an effort to rebalance the oil market. OPEC said oil production fell by 890,000 barrels a day in January compared with December, with Saudi Arabia the biggest contributor to the output reduction. OPEC on Nov. 30 had agreed to cut production from January by 1.2 million barrels a day to end a persistent oil glut. Later in December, Russia and other producers outside the group committed to take 558,000 barrels a day out of the market. The combined cuts would wipe out around 2% of the world’s daily production. But worries about increasing oil production in the U.S., which isn't part of the agreement, continued to pressure prices, particularly after data Baker Hughes on Friday showed that the number of active U.S. rigs drilling for oil, which serves as a proxy for oil activity, rose for a fourth-consecutive week.
MCX CRUDE OIL PURE INTRADAY TIPS CALLS.
https://WWW.CRUDEOPERATOR.COM
CALL OR WHATSAPP : 9022610061
No comments:
Post a Comment