Crude Closed At Its Lowest In Almost Two Weeks As Russia Is Said To Be Less - Dollar Advisory | Best Commodity Tips Provider

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Thursday 16 November 2017

Crude Closed At Its Lowest In Almost Two Weeks As Russia Is Said To Be Less

Crude oil trading range for the day is 3566-3662.

Crude closed at its lowest in almost two weeks as Russia is said to be less than convinced that OPEC should extend output curbs in a meeting this month.

Inventories rose for a second week in a row, building by 1.9mbls in the week to Nov. 10 to 459mbls, the government's EIA said on Wednesday.

US crude oil production hit a record of 9.65mbpd, meaning output has risen by almost 15 percent since their most recent low in mid-2016.

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