{"id":63819,"date":"2014-11-17T07:56:08","date_gmt":"2014-11-17T12:56:08","guid":{"rendered":"http:\/\/countingpips.com\/?p=63819"},"modified":"2014-11-17T09:12:06","modified_gmt":"2014-11-17T14:12:06","slug":"oil-prices-declines-further-on-japan-recession","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2014\/11\/oil-prices-declines-further-on-japan-recession\/","title":{"rendered":"Oil Prices Declines Further on Japan Recession"},"content":{"rendered":"
November 17, 2014<\/div>
\r\n<\/div><\/div>

By HY Markets Forex Blog<\/a><\/u><\/strong> <\/p>\n

Crude oil prices continue to decline on Monday on worries over the demand as Japan falls into a recession. Members of the Organization of Petroleum Exporting Countries will be meeting in Vienna on Nov 27 to tackle the falling trend of the commodity as analysts speculate that producers may not cut output completely.<\/p>\n

Futures for the North American West Texas intermediate (WTI) for December delivery fell 0.45% to $75.58 a barrel on the New York Mercantile Exchange at the time of writing.\u00a0<\/span><\/p>\n

Brent crude declined 0.60% to $78.93 a barrel on the ICE Futures Europe exchange based in London. The European benchmark crude has declined approximately 32% from June as members of OPEC resisted calls to cut output and offered discounted prices instead, while the US increased output to the highest in 30 years.<\/p>\n

OPEC<\/span><\/h2>\n

Iran\u2019s OPEC Governor Hoessien Kazempour, along with the country\u2019s head of oil contracts committee Mehdi Hosseini are scheduled to visit the U.A.E, according to Iran\u2019s oil ministry.<\/p>\n

The group\u2019s main producers such as Saudi Arabia and Kuwait have resisted to calls to cut crude output and offered discounted prices instead. Other countries including Ecuador, Venezuela and Libya raised concerns and called for action to prevent the commodity from its downward trend.<\/p>

\r\n
\r\n

Free Reports:<\/p><\/div>\r\n

\r\n

<\/a>\r\n\t Get Our Free Metatrader 4 Indicators<\/u><\/b><\/a> - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter<\/p>

\r\n
\r\n
\r\n

<\/a>\r\n\t Get our Weekly Commitment of Traders Reports<\/u><\/b><\/a> - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.<\/p>

\r\n<\/div>\r\n

\r\n
<\/div>\n

Oil demand is forecasted to fall by approximately 1% to 92.6 million barrels a day in the first quarter from the current three-month period, according to the Paris-based International Energy Agency.<\/p>\n

A data from the US Commodity Futures Trading Commission showed that the net-long position in the New York contract climbed 8.7% in the week ended November 11.<\/p>\n

The post Oil Prices Declines Further on Japan Recession<\/a> appeared first on | HY Markets Official blog<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

By HY Markets Forex Blog Crude oil prices continue to decline on Monday on worries over the demand as Japan falls into a recession. Members of the Organization of Petroleum Exporting Countries will be meeting in Vienna on Nov 27 to tackle the falling trend of the commodity as analysts speculate that producers may not […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-63819","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/63819","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=63819"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/63819\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=63819"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=63819"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=63819"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}