The main contract , light sweet crude or West Texas Intermediate ( WTI ) for February delivery on the New York Mercantile Exchange , ending at 93.96 dollars per barrel , down 21 cents from Wednesday's close .
Brent North Sea crude for February delivery slipped four cents to settle at 107.09 dollars a barrel in London trade .
In a monthly report , the 12 countries members of the Organization of Petroleum Exporting Countries ( OPEC ) , said demand for OPEC oil is expected to fall in 2014 due to non - OPEC oil supply increased by about 1.27 million barrels per day during 2013 to an average of 55.38 billion barrels per day .
Non- OPEC supply growth was revised higher and mainly from the United States and Canada .
John Kilduff of Again Capital said that the traders " are still processing the weekly inventory report ( U.S. ) yesterday with a substantial decrease in inventory . "
Prices have climbed on Wednesday in New York following a larger than expected decline in U.S. crude stocks show strong demand in the economy and the world's largest oil consumer .
" Nevertheless , the underlying trend ( price ) is still declining given the abundant supply market and expectations of rising supply from Libya and Iran , " said analysts at Commerzbank in a note to clients .
0 komentar:
Posting Komentar