Oil drops on increase in US production

© AP Photo / PRNewsFoto/Redhawk Investment Group, LLC, ShutterstockДобыча oil. Archival photoOil drops on increase in US production© AP Photo / PRNewsFoto/Redhawk Investment Group, LLC, Shutterstock

World oil prices reduced on the last day of the working week, investors continue to react to data on the growth of production of «black gold» in the United States, according to the auction.

As at 08.15 GMT the cost of October futures for North sea petroleum mix of mark Brent has decreased on 0,17% — to 51.92 a dollar per barrel. Price of the September futures for WTI decreased on 0,16% — to 48.95 USD per barrel.

Earlier this week, the US Department of energy reported that for the week ended 28 July, oil production in the country increased by 0.21%, or 20 thousand barrels per day, to 9.43 million barrels a day. At the same time, commercial oil stocks fell less than expected 1.5 million barrels, or 0.3%, to 481,9 million barrels.

«The events of this week showed that some pessimism returned to the market (oil — ed.)», — stated in the August forecast National Australia Bank, quoted by Reuters.

Later on Friday, investors await data on the us oil and gas service company Baker Hughes, a GE Company (BHGE) on the dynamics of the number of drilling rigs in the country. At the end of the previous working week, the number in the United States increased by eight (two oil and six gas), or 0.8%, to 958 units. In annual terms, the number of drilling rigs grew by 495 units, or 2.1 times.

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