Excessive fears for oil prices for providing press

Oil prices have fallen amid news indicating that the “OPEC+” coalition is still considering a major increase in production, which increased the expectations of a surplus in the offer this year. Brent ruol has decreased to settle below $ 65 a barrel after losing 1.2% in the previous session, and the West Texas West Raw has dropped below $ 63 a barrel. Earlier this week, the oil increased after “OPEC+” decided to increase production in accordance with the expectation, which preceded the fear of greater increases in the supply. Trump’s fees are pressure on the prospects for demand, but prices have been 12% low since the beginning of the year, due to the decline in the coalition policy in defending prices by reducing production, as well as concerns that commercial wars in America could negatively affect demand. ‘Bloomberg’ quoted Rebecca Babin, a major agreement in the energy field of the ‘CBC Private Wild Group’, that the coalition intentions were clearly announced, despite the initial response to the market. “However, it shows that the path that OPEC is taking+ is likely to continue.” These indicators overwhelmed the U.S. government statements, which showed that crude shares in the country fell by 4.3 million barrels last week, increasing expectations with temporary scarcity in the market. On the other hand, the demand for gasoline has decreased. However, oil prices recorded this week due to the relief of markets because the production of ‘OPEC+’ was more than expected, at a time when some indicators in the short term indicate a relative power in the market. The immediate difference between Brent -Ru contracts compared to the past month has expanded in a rising structure, indicating a scarcity of supplies.