Oil prices fell on Wednesday, in their longest string of daily losses in a year as worsening global oversupply offset the potential lift from a weaker dollar and an expected drop in US crude stocks.
A Reuters survey on Tuesday showed members of the Organization of the Petroleum Exporting Countries produced around 3 million barrels per day (bpd) of oil more than daily demand in the second quarter, compared with around 2 million bpd in the first three months of the year.
The Federal Reserve meets later in the day, but market expectations of a September rise in interest rates are fading, leaving the dollar down against a basket of currencies.
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A Reuters survey on Tuesday showed members of the Organization of the Petroleum Exporting Countries produced around 3 million barrels per day (bpd) of oil more than daily demand in the second quarter, compared with around 2 million bpd in the first three months of the year.
The Federal Reserve meets later in the day, but market expectations of a September rise in interest rates are fading, leaving the dollar down against a basket of currencies.
Click Here For Free Signals OR Give A Missed Call : +60350219047 Follow Us On Twitter : www.twitter.com/epicresearchmy Like Us On Facebook : www.facebook.com/EpicResearchMalaysia Need Any Assistance About KLSE online Feel Free To Mail Us at : info@epicresearch.my
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