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The Price of oil (June futures) to 16.54 GMT on Thursday 18 April, increased by 0.2% to 71,75 USD per barrel for Brent. The market of "black gold" after a morning of downward correction tries to return to growth.
Support comes from data of U.S. Department of energy on the reduction of commercial oil reserves in the United States over the past week by 1.4 million barrels, while analysts had expected growth rate. In addition, oil production in America has decreased for the week by 100 thousand barrels per day to 12.1 million barrels.
Also, oil prices are based on the statement of the head of the Libyan state company National Oil Corp. (NOC), Mustafa Sanalla (Mustafa Sanallah) that oil production in the country in the coming weeks to drop to zero from the current level of 1.2 million barrels per day. The reason is the development of military conflict in the country.
meanwhile, in February, Russia in February was again the second largest oil production with the average of 10,669 million barrels a day, behind the United States with the result of 12,025 million barrels, appreciated the organization of the "Joint initiative on oil statistics" (JODI).
At the same time Russia has reduced over the month, production by 0.05%, the United States has increased by 1.3%, and the third the production level of Saudi Arabia - declined 1% (). Meanwhile, the Kingdom remained in the Feb leader in exports with a score of 6,977 million barrels per day, Russia is likely in second place (4,841 million barrels in January), Iraq on the third of 4.01 million barrels in February., US fourth - 3,033 million barrels.
Interesting data on oil refining. In the American plants, it decreased in February by 1.5%, but (!!!) 17,409 million barrels a day in Saudi Arabia rose by 0.3 percent to 2,767 million barrels in Russia rose 0.1% to 5,965 million barrels.
the pair Euro-dollar a day significantly reduced already below 1,125. The pressure comes from the weak macroeconomic data on the Eurozone.
the Composite (manufacturing and services) purchasing managers ' index (PMI) Euro zone in April decreased to 51.3 vs. 51.6 in March to the lowest in three months. Experts expected growth index to 51.8. The manufacturing PMI in the Eurozone increased to 47,5 47,8 with the March, although analysts had expected the index to 47.9 points.
In summary, 16.58 GMT the Euro declined to the previous fixing by 0.4% to 1,1247 dollar.
Market, USA, dollar, oil, ruble, Forex club
Not found economic events 2019-04-18 for 2019-04-18
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Overview: oil prices tend to upgrade to 5-month highs 12.04.2019 at 14:12