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2016-07-14 11:20:00

OPEC UP

OPEC UP

IEA said, oil production from the Middle East has climbed to a record while U.S. output slumps,  in a sign that OPEC's strategy of defending market share is succeeding.

Middle Eastern output exceeded 31 million barrels a day for a third month in June amid near-record supply from Saudi Arabia, while U.S. oil production slid 140,000 barrels a day to 12.45 million.  While the re-balancing of global oil markets is progressing, record-high inventories remain a threat to the recent stability of oil prices.

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Tags: OPEC, OIL, PRODUCTION

Chronicle:

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2019, March, 22, 10:20:00

U.S. OIL INVENTORIES DOWN 9.6 MB

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2019, March, 22, 10:15:00

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2019, March, 22, 10:10:00

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2019, March, 22, 10:05:00

U.S. FEDERAL FUNDS RATE 2.25-2.5%

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