Off the wire
• Urgent: UN General Assembly closes 69th session  • Hungarian authorities roll razor-wired railroad car onto last unofficial Serbia-Hungary crossing  • Pentagon alleges Russia intends to build military base in Syria  • Urgent: U.S. dollar falls ahead of Fed meeting  • Urgent: Oil prices drop as equity markets stump  • EU to search, seize smugglers' boats in Mediterranean  • Czech increases policing along Czech-Austrian border over refugees  • 1st LD Writethru: Gold edges higher ahead of Fed's policy meeting  • Rajoy campaign to explain "consequences" of Catalan independence  • EIB agrees billion pound backing for London transport  
You are here: 　 Home

1st LD Writethru: Oil prices drop as equity markets stump

Xinhua, September 15, 2015 Adjust font size:

Oil prices lost Monday as global stock markets went low.

Traders were depressed by the lose in global stocks market Monday. Wall Street economists are split on whether the Fed will raise rates Thursday, with a small majority forecasting no rate rise at the meeting, according to the Wall Street Journal.

The Organization of Petroleum Exporting Countries (OPEC)' crude production averaged 31.54 million barrels per day (mb/d), according to OPEC monthly oil market report released Monday.

Non-OPEC oil supply is expected to grow by 0.88 mb/d in 2015, following a downward revision of around 72,000 barrels per day (tb/d), due to lower-than-expected output in the US. In 2016, non-OPEC oil supply is expected to increase slightly by 0.16 mb/d.

In 2015, world oil demand growth is expected to be around 1.46 mb/d after an upward revision of around 84 tb/d, mainly to reflect better-than-expected data from OECD region.

The West Texas Intermediate for October delivery moved down 63 cents to settle at 44 U.S. dollars a barrel on the New York Mercantile Exchange, while Brent crude for October delivery decreased 1.77 dollars to close at 46.37 dollars a barrel on the London ICE Future Exchange. Enditem