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SINGAPORE - Make money blog$: Oil prices fell in Asian trade on Wednesday (14/12), triggered by concerns about demand for the euro zone debt crisis shows no signs of improvement.
Investors are also awaiting the results of the meeting of the Organization of Petroleum Exporting Countries (OPEC) isscheduled to take place in Vienna this Wednesday although mostexpect the oil cartel will announce that the organization will maintain its current production target.
New York's main contract, light sweet crude for January deliveryfell 31 cents to the position of U.S. $ 99.83 per barrel,
while Brent North Sea crude oil delivery in January fell 34 cents to U.S. $ 109.16 per barrel.
"Concerns about the widespread macroeconomic still continuingdebt crisis in the zone eeuro has caused oil prices to weaken,"said analysts at Capital Barclyas in a commentary.
"The main focus of the current market is the OPEC meeting in Vienna ..." The oil market has begun to weaken since the previous meeting, and the geopolitical context has beenexacerbated. "
The analysts really expect OPEC, which supplies a third of world crude, maintain current production target of 24.84 million barrelsper day - which has been running nearly three years.
But with the International Energy Agency estimates that OPEC'sactual production reached 30.68 million barrels per day in November - the highest number in more than three years - the cartel may have issued a statement that pledged its productionwill be in accordance with the quota.
OPEC, which consists of 12 countries and is based in Viennathat periodically conduct a meeting to establish the level of production. (Ant/Ol-3)
source: mediaindonesia.com
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Investors are also awaiting the results of the meeting of the Organization of Petroleum Exporting Countries (OPEC) isscheduled to take place in Vienna this Wednesday although mostexpect the oil cartel will announce that the organization will maintain its current production target.
New York's main contract, light sweet crude for January deliveryfell 31 cents to the position of U.S. $ 99.83 per barrel,
while Brent North Sea crude oil delivery in January fell 34 cents to U.S. $ 109.16 per barrel.
"Concerns about the widespread macroeconomic still continuingdebt crisis in the zone eeuro has caused oil prices to weaken,"said analysts at Capital Barclyas in a commentary.
"The main focus of the current market is the OPEC meeting in Vienna ..." The oil market has begun to weaken since the previous meeting, and the geopolitical context has beenexacerbated. "
The analysts really expect OPEC, which supplies a third of world crude, maintain current production target of 24.84 million barrelsper day - which has been running nearly three years.
But with the International Energy Agency estimates that OPEC'sactual production reached 30.68 million barrels per day in November - the highest number in more than three years - the cartel may have issued a statement that pledged its productionwill be in accordance with the quota.
OPEC, which consists of 12 countries and is based in Viennathat periodically conduct a meeting to establish the level of production. (Ant/Ol-3)
source: mediaindonesia.com
please give me comments thanks
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