Oil came back down again during Friday oil to its lowest level since July 2009 in the wake of the statement issued by the International Energy Agency, which disclosed it to the large supply of oil and the future bleak demand.
Oil is now trading by 18:30 pm GMT, at $ 58.00 per barrel from the opening level of $ 59.15 recorded the highest price in this session at $ 59.55, the lowest price at a level of 57.30.
The International Energy Agency said that it is expected that the price of oil is under more pressure and that may lead to the continuation of bleeding landing, also lowered its forecast for global demand growth in 2015, the agency is expected to result in increased supplies from outside the Organization of Petroleum Exporting Countries "OPEC" to promote satiety global oil supply versus expectations of a decline production of "OPEC" oil by 315 thousand barrels per day in December to 30.32 million barrels per day.
Oil on his way to the second-largest weekly loss to fall by 12% during this week recording, and the agency said it was premature to expect that low oil prices start to rise again it does take some time for the interaction of supply and demand, with falling prices, and seeing oil prices fell sharply since OPEC decided last month to maintain the production rate without any change.
Oil is now trading by 18:30 pm GMT, at $ 58.00 per barrel from the opening level of $ 59.15 recorded the highest price in this session at $ 59.55, the lowest price at a level of 57.30.
The International Energy Agency said that it is expected that the price of oil is under more pressure and that may lead to the continuation of bleeding landing, also lowered its forecast for global demand growth in 2015, the agency is expected to result in increased supplies from outside the Organization of Petroleum Exporting Countries "OPEC" to promote satiety global oil supply versus expectations of a decline production of "OPEC" oil by 315 thousand barrels per day in December to 30.32 million barrels per day.
Oil on his way to the second-largest weekly loss to fall by 12% during this week recording, and the agency said it was premature to expect that low oil prices start to rise again it does take some time for the interaction of supply and demand, with falling prices, and seeing oil prices fell sharply since OPEC decided last month to maintain the production rate without any change.
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