Monday , January 17 2022

Oil: the rotation continues to hold the producers


# Algeria He continued oil prices in the long run, reaching a low historical level on Tuesday, November 21, 2018. Prospects for slowing down global economic growth do not help things …

As the prices of net hydrocarbon export countries start rubbing their hands, the downward trend that started in October is confirmed.

Oil prices are at their lowest level in ten months. Yesterday, Tuesday, November 21, 2018, the barrel of Brent in London closed at $ 62.53, or $ 23.41 less than the highest level of the year that reached October 4 – or 27.4% less.

Here is the lowest level of courses for almost a year. And on New York's Commercial Exchange (Nymex), oil fell at its lowest level since November 2017, at $ 53.43.

According to a number of analysts, the oil could be too much, especially if the slowdown in global growth is confirmed.

In addition, US sanctions against Iran, were announced to be very serious, were mitigated at the last minute. This is partly what the oil price is retained on its decline. This has been added to the fact that the world's largest producers, including the United States, have begun to predict Iran's production decline.

>>> READ ALSO: Oil: the fall continues and endorsed the calculations of the producers

So Russia and Saudi Arabia have actually increased the amounts of oil taken, hoping to sell them when Iran does not sell as much as it is now. Although, on its behalf, the production of the US has even reached a record as there are rarely rarely strategic reserves. All of these factors are likely to keep prices on their constant.

Such levels do business in countries imported like Moroccan, Senegal, the Democratic Republic of the Congo, Ivory Coast, Mali, Ethiopia, Kenya. Although Algeria, Nigeria, Angola, Gabon or Congo are risky, to the contrary, to see their economies becoming even more low.

Source link