Crude oil falls to $49 a barrel on new supply

Oil fell towards $49 a barrel yesterday, pressured by high output from Middle East Opec members and as a stronger US dollar weighed on commodities.
Crude oil falls to $49 a barrel on new supply
Tue, 30 Aug, 2016 - 01:00
Alex Lawler, Reuters

Iraq, which has exported more crude from its southern ports in August, will continue ramping up output, its oil minister said during the weekend.

Top exporter Saudi Arabia has kept output at around record levels this month.

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Place: IraqPlace: ArabiaPlace: LondonPlace: USPerson: Carsten FritschOrganisation: Middle East OpecOrganisation: CommerzbankOrganisation: US Federal ReserveOrganisation: OPECOrganisation: RussiaOrganisation: Barclays
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