{"id":69820,"date":"2015-03-19T12:09:26","date_gmt":"2015-03-19T16:09:26","guid":{"rendered":"http:\/\/countingpips.com\/?p=69820"},"modified":"2015-03-19T13:01:59","modified_gmt":"2015-03-19T17:01:59","slug":"crude-prices-under-pressure-as-opec-keeps-production-steady","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2015\/03\/crude-prices-under-pressure-as-opec-keeps-production-steady\/","title":{"rendered":"Crude Prices Under Pressure as OPEC Keeps Production Steady"},"content":{"rendered":"<div id=\"inves-940290546\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">March 19, 2015<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p><strong>Highlight:<\/strong><\/p>\n<ul>\n<li>Brent, WTI both fall on Thursday.<\/li>\n<li>US dollar rebounds following biggest selloff in 6 years.<\/li>\n<li>Kuwait oil minister says OPEC will keep production elevated.<\/li>\n<\/ul>\n<p>Global crude prices declined on Thursday after Kuwait\u2019s oil minister said OPEC has little choice but to keep production steady, raising fresh concerns about an oversupplied energy market.<\/p>\n<p>Brent crude tumbled 2.4 percent to $54.64 a barrel. The global benchmark had rallied more than $2 on Wednesday after a broad US dollar selloff in the wake of a cautious Federal Reserve policy statement. The dollar experienced its biggest single-day plunge in six years, but has since recovered most of its losses.<\/p>\n<p>&nbsp;<\/p>\n<p><a href=\"http:\/\/www.fxtimes.com\/wp-content\/uploads\/2015\/03\/Screenshot-173.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-199329\" src=\"http:\/\/www.fxtimes.com\/wp-content\/uploads\/2015\/03\/Screenshot-173.png\" alt=\"Screenshot (173)\" width=\"739\" height=\"485\" \/><\/a><\/p>\n<p>&nbsp;<\/p>\n<p>West Texas Intermediate (WTI) for April delivery also declined, falling 1.9 percent to $43.50 a barrel.<\/p>\n<p>Oil prices were under pressure on Thursday after Kuwait\u2019s oil minister said OPEC would keep production steady.<\/p>\n<p>\u201cWe don\u2019t want to lose our share in the market,\u201d Ali al-Omair said, echoing the cartel\u2019s decision last November to maintain production levels despite falling prices.<\/p><div id=\"inves-4252064763\" class=\"inves-in-content inves-entity-placement\"><hr style=\"border: 1px solid #ddd;\">\r\n<div id=\"inpost_ads_header\">\r\n<p style=\"font-size:10px; float:left; color:#666;\">Free Reports:<\/p><\/div>\r\n<div id=\"inpost_ads\"> \r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/1ApBOV\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2018\/06\/graph_techs_PD.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t     <a href=\"https:\/\/goo.gl\/1ApBOV\"><b><u>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><br><br>\r\n<br>\r\n<br>\r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/f3RrHX\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2019\/01\/cot_pie_80.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t    <a href=\"https:\/\/goo.gl\/f3RrHX\"><b><u>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><br><br>\r\n<\/div>\r\n<hr style=\"border: 1px solid #ddd;\">\r\n<br><\/div>\n<p>Global output is expected to slow eventually as very low price points squeeze the market. In the meantime, however, production remains at record-high levels. Earlier this week the Energy Information Administration said US crude inventories rose to a new record high last week for the tenth consecutive week. The global supply glut has lowered the outlook on WTI to $40 a barrel in the short-run.<\/p>\n<p><i>For more late-breaking Forex news, currency analysis and investment tools, visit <\/i><a href=\"http:\/\/www.fxtimes.com\/\"><i>http:\/\/www.fxtimes.com<\/i><\/a><i>.<\/i><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Highlight: Brent, WTI both fall on Thursday. US dollar rebounds following biggest selloff in 6 years. Kuwait oil minister says OPEC will keep production elevated. Global crude prices declined on Thursday after Kuwait\u2019s oil minister said OPEC has little choice but to keep production steady, raising fresh concerns about an oversupplied energy market. Brent crude [&hellip;]<\/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-69820","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/69820","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=69820"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/69820\/revisions"}],"predecessor-version":[{"id":69822,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/69820\/revisions\/69822"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=69820"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=69820"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=69820"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}