U.S. Oil production increased to peak last 20 years Oil prices declining

13 Feb

Oil prices fell on Wednesday after the U.S. market Energy Information Administration, the statistical agency of the U.S. government’s Energy, announced that U.S. oil production rose to the highest level in over 20 years.

Weekly U.S. government data presented show that the U.S. oil production rose last week to 7.06 million bpd, the highest level since December 1992, according to Bloomberg.

Oil prices fell to 0.3% after information came out.

Reference to the U.S. market are traded in New York at $ 97.34 a barrel, down 17 cents, while the volume of contracts traded is 42% higher than the average last 100 days.

Quotation of Brent crude fell 20 cents to about $ 118 per barrel.Volume for Brent crude is above the range with 17% average of last 100 days.

Source: zf.ro

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