(Obi.en): oil prices falling Friday to their lowest levels so far in 2018.
Brent oil is down 1.2 per cent to 61,87 per barrel, after having been down in the 61,52 dollars. This is the lowest level seen since December of 2017.
WTI oil is down 1.1 per cent to 53,26 dollars a barrel.
It should be said that the volumes are thin. Markets in the united STATES were closed yesterday. Today keep Japan closed, whereas the americans are running half a day.
Nevertheless: the concerns for a tilbudsoverskudd in the oil market, combined with a weaker outlook for the global economy, continues.
Saudi Arabia will cut
Traders told Reuters that although expectations of a 2019-cuts from OPEC (and their allies) of 1.0-1.4 million barrels in December-the meeting provides little support.
– We will not sell the oil that its customers need, ” said Saudi Arabia’s oil minister Khalid al-Falih according to the news to the press on Thursday.
oil prices have now plummeted 30 per cent since the peaks of October.
Morgan Stanley believes a kuttavtale on the OPEC meeting is more likely than that no agreement is entered into, and type according to Reuters in an update that this is likely to keep oil prices at “high 50-numbers, at least in the short term”.
Other financial news:
Børssmell for Røkke – 13,6 billion. blown away in under two months
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