Oil prices on Tuesday, August 23, continue to fall due to news from Iraq about a possible increase in the export of black gold. The price of oil Brent for the first time since August 17 fell below $49 per barrel, according to the auction.
At 08:15 in Kiev October futures for North sea petroleum mix of Brent crude fell by 0.96% to us $48,69 per barrel, and October futures for WTI – by 1.24% to $46,81 per barrel.
The pressure on the cost of black gold has information about the renewal of some of the countries of export and production of oil. In mass media there was information that Iraq this week may increase exports from fields in Kirkuk.
“Oil prices fall, ending a long line of strong daily growth as Iraq intends to increase the supply by approximately 5% over the next several days,” noted analysts at ANZ Research.
According to the International energy Agency (IEA), in July oil export of Iraq has reached 3.71 million barrels per day. The volume of production amounted to about 4.33 million barrels. It on 80 thousand more compared to the previous month.