Oil price break down

The price of the barrel of oil lost today, Monday, more than two dollars on the market, after the adoption by the OPEC, of the decision to maintains their productions and showing their intention to reduce the production during the meeting that will take place in Algeria next December 17.

• The price of the Brent knew a decrease of 2.3 dollars, on the market of London so that it reached 51.36 dollars in comparison to the closing day last Friday. On the other hand, the Light Crude also knew a decrease of 2.41 dollars to reach 52.02 dollars on the market of New York. 
• According to the experts, the fall of the prices of oil would be due to the decision of the countries members of the OPEC to maintain the ceiling of their productions. 
• On his turn, the president of the OPEC, Mr. Chakib Khelil confirmed, today Monday, the plotting of the decision of the OPEC members to reduce their productions on the date of the meeting of the organization which will take place in Oran. Strategy followed in order to value the developments of the Oil market. 
• Noting that the OPEC organization decided, Saturday, in Cairo, to maintain the ceiling of its present production (27,3 millions of barrels/Day) with the possibility to make a reduction next December 17 during the meeting of Oran. 
• APS