Friday, January 2, 2015

Oil Declines as Iraq and Russia Raise Production and Exports to Record Levels

Oil continued its fall in the first day of trading in 2015 amid reports that oil supplies in Iraq and Russia surged to the highest levels in decades. Russian oil production rose 0.3 percent in December to a post-Soviet record of 10.667 million barrels a day, while Iraq exported 2.94 million barrels a day in December, the most since 1980s, Bloomberg reported. Brent for February settlement was trading around $56 on Friday.


Anonymous said... --- Fight for oil: 100 years in the Middle East

Anonymous said...

The more Iran's so-called allies Russia and Iraq exports,the more it will hit the Iranian economy.Iran will benefit the least in oil sales.