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Brent is getting cheaper after the last week growth

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Brent is getting cheaper after the last week growth
January 14
09:00 2019

The oil price falls after the last week growth.

The March contracts for Brent crude oil have slipped by 1.1% to $ 59.8. February contracts for WTI crude oil have fallen by almost 1.2% – to the value of $ 51 per barrel.
The price rise was justified by the dialogue between the States and China, as well as by a decrease in the supply of the OPEC cartel.

Experts say that the downfall of Asian markets and nearly a month break in the work of the US government have become negative factors.
Oil follows the stock market and is waiting for the reporting season. OPEC is going to cut the production, but this is not enough for the market to confidently go up. Analysts believe that at the moment all significant market players are waiting for a new round of negotiations between the States and the PRC.

Khalid A. Al-Falih said he was not worried about the production increase in the States and stressed that the production decline of OPEC+ was good for US producers.

The material was prepared with the participation of Katya Gordon,
a leading analyst of the brokerage company CT Trade

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