country flagالعربية

Oil fell after the agency's forecast of rising supplies in 2020

2019-06-14 09:34 am | Resource: News | No Views : 70

Oil fell after the agency's forecast of rising supplies in 2020

Crude oil prices traded slightly in the red zone on Friday, as investors took up the latest monthly report of the International Energy Agency (IEA), which stated that the global supply of oil will exceed global demand significantly in 2020.

At the same time, the market observers treated the Organization of Petroleum Export Organization. The monthly report of the Organization of the Petroleum Exporting Countries (OPEC), which lowered expectations of global demand for oil this year.

The International Energy Agency (IEA) slashed its forecast for global oil demand growth for a second month in a row

The International Energy Agency (IEA) cut its forecast for world oil demand growth for the second straight month, currently expecting 1.2 million barrels per day (bpd) this year, before reaching 1.4 million barrels by 2020. The Paris-based agency said in its monthly report on Friday The slowdown in global oil consumption, including: a warm winter in Japan, a slowdown in the petrochemical industry in Europe, lukewarm demand for gasoline and diesel in the United States and deteriorating outlook on trade.

Yesterday's attacks on two carriers in the Gulf of Oman remained in the spotlight, especially after the United States accused Iran of being behind the attacks. However, Tehran categorically rejected the accusation.

Rohani: The United States poses a serious threat to stability in the Middle East

Iranian President Hassan Rowhani said on Friday that the United States represents a serious threat to stability in the Middle East and the world at large. Speaking at a meeting of the Council of Heads of State of the Shanghai Cooperation Organization (SCO), Rohani accused Washington of violating international rules in the past two years using its "economic, financial and military capabilities" to implement aggressive foreign policy approaches.

Rohani's comments come amid escalating tension in the Middle East in the wake of yesterday's attack on two tankers in the Gulf of Oman, near strategically important Strait of Hormuz. The United States blamed Iran for the incident and deployed a guided missile destroyer in the Persian Gulf, while the Islamic Republic rejected the allegations and urged the international community to prevent "reckless and dangerous policies and practices of the United States and its regional allies in escalating tensions in the region."

  • WTI crude for July delivery fell 0.36% to trade at $ 52.12 a barrel.
  • While the Brent index for August fell 0.16% to reach 61.18 dollars a barrel at 10:53 CET.

Other analysis

Best Opportunities, Vision and Technical Analysis for The Oil 17 April 2019

(CURDE OIL - WTI ) We offer you oil analysis denominated by US dollar on Wednesday, April 17, 2019, with the most important forecast for the price of oil denominated by US dollars in the market. Time frame Used - four hours Oil is moving in a sideway direction in the near term. The purchasing power managed to push oil higher to close at the end of trading today, rising…

More analysis

Best trading brokers

All Rights Reserved
Risk Disclaimer: Trading in foreign exchange market (Forex) includes the risks and the possibility of loss. That is why we are keen on providing the highest quality news and analysis concerning the different markets traded. The opinions expressed in the site indicate the opinion of the author only and not the views of the administration or the public, knowing that errors could be encountered and there is a possibility to commit them. Before starting to trade you should carefully consider your investment objectives, and review the level of experience and risk appetite. In some cases, possible high leverage can lead to loss of funds invested, so you can not invest money that you can not handle its possible loss. You should be aware of all the risks associated with foreign exchange trading and seek for advices from an independent financial advisor if you have any does not assume any responsibility after the occurrence of financial loss to the dealer and the user carries full responsibility for the losses resulting from the use of news, analysis and data on the site.