Oil is cheaper on the background of the exceptions to the anti-Iranian US sanctions eight countries

© AP Photo / David ZalubowskiДобыча of shale oil in the United States. Archival photoOil is cheaper on the background of the exceptions to the anti-Iranian US sanctions eight countries© AP Photo / David Zalubowski

Oil prices on Friday to continue the decline amid reports that the United States will provide the eight countries that buy oil from Iran, the exclusion from the scope of the sanctions, according to the auction.

As at 20.56 MSK price of January futures for North sea petroleum mix of mark Brent has decreased on 0,01% to 72,88 dollars per barrel. The price of December futures for WTI crude oil fell while on 0,83%, to 63,16 dollars per barrel.

The United States will make an exception to the sanctions for the eight countries that import oil from Iran, said Secretary of state Mike Pompeo. He noted that it is planned to make temporary exceptions to the eight jurisdictions, but only on the basis that they demonstrate a significant reduction of crude oil imports from Iran.

In addition, on Friday the White house in a statement on sanctions against Iran, expressed the view that despite the reduction in Iranian oil exports on energy markets will have enough supply. According to the forecast of the US administration, in 2019, oil production in the United States will increase by one million barrels of oil per day or more.

Incentive to increased oil production is not given and data on the reduction of number of drilling units in the U.S. last week. According to the American oil and gas service company Baker Hughes, a GE Company (BHGE), the number of oil drilling in the United States for the week ended 2 November, down by one, to 874 units.

Oil is cheaper on the background of the exceptions to the anti-Iranian US sanctions eight countries© Infographicsrussia forces in the world oil market

Source