Oil prices can go down due to the growth of production of the Saudis

Riyadh two years sarcasam prey. Experts expect that the increase in oil production, the Saudis can lower prices.

Saudi Arabia decided to increase oil production after two years of reduction of production of raw materials. This writes The Wall Street Journal.

Clarifies that in comparison with the total volume of oil production in Saudi Arabia new production volumes are not significant.

“But it marks a sharp turn for Riyadh, who headed a coalition of major oil producers, which over the past two years, greatly reduced the production of raw materials”, – notes the edition.

Experts expect that the increase in oil production capacity Saudi Arabia can lower prices.

It bears reminding that the oil ended a little lower for the third straight week.

Quotation of the August futures for Brent on London’s ICE Futures exchange fell on June 9 at $0,86 (1,1%) to $76,46 per barrel.

WTI for July delivery on the new York Mercantile exchange (NYMEX) fell by 21 cents (0.3 percent) to $65,74 per barrel.

For the week, the Brent price decreased by 0.4%, WTI – by 0.1%.

Earlier media reported that the United States the day before the release of the nuclear agreement with Iran turned to Saudi Arabia with a request to stabilize the price of oil, if they suddenly dramatically increase.


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