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Saturday, 27 August 00:33 (GMT -05:00)



Stock and commodities markets

Crude Oil: USA and OPEC’s Higher Oil Reserves Press Oil Prices


 

 

As of April 27th 2012, the oil supply to US refineries reached 14.7M barrels a day, which was 230K b more than a week before. The refining capacity increased up to 86%. The production of gasoline saw almost no changes as compared to the previous week - 8,8M b/d. The production of distillates declined by 4.1M b/d week-over-week.

 

 

 

 

 

 
Over the last 4 week the oil import reached 8.7M b/d, which was 15K b/d more as compared to the same period a year ago. Last week’s total gas import was equal to 777K b/d. Last week’s total import of distillates was equal to 91K b/d.
 
The US oil reserves increased by 2.8M b up to 375.9M b, which is the7-month high. The gasoline reserves shrank by 2M b. The total reserves of distillates declined by 1.9M b while the total oil reserves increased by 1.9M b.
 
The demand for oil products was estimated at 18.8M b/d during the last 4 weeks. This is 1.7% less than a year ago. The demand for gasoline reached 8.7 b/d over the same period. This is 4.7% less than a year ago. The overall consumption of oil products was lower than a year ago.
 
According to the Commodity Trading Department of Masterforex-V Academy, the mid-term trend in the global market of crude oil remains bearish amid record-high reserves in the USA and OPEC countries.

 


 

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Reasons To Buy Bitcoins Right Now

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Oil Market: Price Goes Up

Price of benchmark crude oil keeps rising, on Wednesday, June 08, it was trade close to maximal points for 11 months after publication of data on stocks of fuel in the United States of America.

 
At London stock exchange ICE Futures quotations of August futures of Brent oil blend have risen by 0.91 USD (1.77 percent) – to 52.35 USD per barrel.
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Who Needs High Oil Prices?

The world community is watching a price drop at the market of energy resources. The situation is most complicated for countries, the budget of which initially counted on high earnings from oil.
 
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