World oil prices began to fall

Baku. 9 January. REPORT.AZ/ Oil prices began to fall after the news about an increase in volume of exports by Iran and increase in the number of active oil wells in the US. 

Report informs citing the Reuters, Iran has exported over 13 mln barrels of oil (44% ) from its floating oil storage facilities in the last months of 2016. 

Thus, oil reserves in floating oil storage facilities in Iran dropped to 16.4 mln barrels. Moreover, during the reporting week number of active oil wells in US increased by 4 units or 0,76% and reached 529. The number of active oil wells in the US increases for 10 consecutive weeks. Annually, the number of active oil wells in US showed an increase of 13 units or 2.5%.

Analytical Group of Report predicts, short-term decrease in oil price up to 50 USD/barrel. At present, Brent crude oil price decreased by 1.7% compared with the end of last week and amounted to 56 USD/barrel.