Oil prices are falling due to increased exports of Iran
Twilight News / oil prices went down on Tuesday by increasing Iran's exports, which increase the global supply glut albeit crude market find some support in the production cut is expected that led the Organization of the Petroleum Exporting Countries (OPEC) later this year.
It was the World London Brent crude traded in the futures price of $ 50.63 a barrel by 0645 GMT, down 26 cents, or about 0.5 percent from the previous close. The inn crude West Texas Intermediate US 32 cents, equivalent to 0.66 per cent to $ 48.49 a barrel. Traders said falling prices resulting from increased raw Iranian and condensate sales, which amounted to probably around 2.8 million barrels per day in September, approaching the peak of exports in 2011 before the imposition of sanctions on the OPEC member state. Analysts say Iran will have difficulty in increasing production more than that and reach the production levels before the sanctions increases the likelihood of Tehran's agreement to impose restrictions on production in some way with other OPEC members, including Saudi Arabia rival, which pumps more oil close to record levels. There is optimism that reach producers in OPEC - and possibly exporters from outside the organization, such as Russia - an agreement that when the group meets in November, but the failure risks remain.
Morgan Stanley said in a note to clients "At the moment he returned optimism and the market awaits confirmation of the agreement or the participation of additional non-OPEC."