Oil well production in the United States rose to an 18 month high, oil prices fell in Asia
oil well production in the United States rose to an 18 month high, oil prices fell in Asia
March 21, 2017
[China paint information]
the "construction of intelligent factory for force measurement of high-performance thermoplastic composite load sensors" project of its subsidiary zhongguanghe Juner new materials Co., Ltd. Baker Hughes data showed on Friday, The number of oil wells produced in the United States rose to the highest level since September 2015. Affected by this, oil prices began to fall in the morning trading of Asia on Monday (March 20)
wti crude oil prices fell by 36 cents or 0.75% to 48.95 US dollars/barrel. Brent crude oil prices fell 2 cents, or 0.46%, to $51.45 a barrel. Baker Hughes data showed that as of and due to the limitations of the screen, the number of oil wells produced in the United States increased by 14 in a single week to 631 in total
however, the oil price only fell moderately, because the market expects OPEC to continue to limit oil production after June this year
according to Reuters, analysts believe that "the test of oil production restriction led by OPEC will not begin until April. At that time, oil demand will begin to increase, and oil refiners will gradually shift from the current equipment maintenance state to the production state."