Oil falls as Russia signals a production cut

2019-04-15 20:53:06 GMT (Economies.com)
Oil falls as Russia signals a production cut

Oil prices fell during today's trading, after comments by the Russian Finance Minister on the importance of a production cut and engagement within the OPEC agreement, which Moscow is part of.

 

At 16:28 GMT, the dollar index (against a number of major currencies) stabilized by 96.9 points, with a high of 96.9 points and a low of 96.7 points.

 

Russian Finance Minister Antoine Silwanov, stated that the OPEC agreement to reduce production could make Moscow lose its market share and increase the United States'.

 

This comes as the United States continued to produce 12.2 million barrels per day during last week, a record production rate supported by the shale oil production activities.

 

In terms of trading, by 16:29 GMT, West Texas crude fell by 1.1% to $63.2, with the highest price at $63.8 and the lowest price at $63.03.

 

Brent fell by 0.7% to $71.07 a barrel, with the highest price at $71.6  and the lowest price at $70.7.

 
 
 
  Symbol Last Change Chg.%
1.1293
0.0075
0.6699%
1.2706
0.0123
0.9807%
15.454
0.586
3.941%
57.417
4.908
9.347%
64.44
2.57
4.15%
1389.180
47.900
3.571%
 
 
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