Oil market updates deserving attention
EconoTimes, source of global economic and finances news, has outlined the basic updates, characterizing up-to-date situation in oil market. First, USA has taken the position of major influencing factory in oil market as the daily output reached 9.54 million barrels (tones) before dropping because of Hurricane Nate impact. However, the production has been restored and amounts to 9.55 million b/d. As recently reported, USA has 729 operational rigs, but this indicator tends to decline. Second factor is that two Central Asian oil producers, Turkmenistan and Uzbekistan will likely participate as observers in OPEC and non-OPEC gathering, to be hosted by Vienna on 30 November. It indicates that output cut deal gains worldwide popularity. Third, US oil exports has hit reportedly record figures, exceeding 2.133 million barrels per day. Brent is currently trading at $66 per barrel, the price last appeared in reports in June 2015.
