This text is translated into Russian by google automatic human level neural machine.
EastRussia is not responsible for any mistakes in the translated text. Sorry for the inconvinience.
Please refer to the text in Russian as a source.
World oil prices declined, on data on GDP decline in Japan
Oil prices decline on Monday after a sharp jump on the results of trading on Friday, the main negative factor for the market are data on GDP decline in Japan for the second quarter in a row, the agency said. Bloomberg.
January futures for Brent crude on the London stock exchange ICE Futures to 14: 28 Moscow time on Monday fell by $ 0,74 (0,93%) - to $ 78,67 per barrel. Since the peak in July, the contract fell in price by 32%. The price of WTI futures for December in electronic trading on the New York Mercantile Exchange (NYMEX) fell to the specified time by $ 0,52 (0,69%) - to $ 75,3 per barrel.
The Japanese economy in the third quarter declined by 1,6% in annual terms, after falling to 7,3% in the second quarter. The decline in GDP for two consecutive quarters is a technical definition of the recession. Analysts polled by Bloomberg, on average, forecast GDP growth in July-September at 2,2%.
In addition, the attention of the market is still directed to the OPEC states, whose representatives in recent days have intensified negotiations ahead of the November 27 meeting. Experts note that a sharp drop in quotas for oil production, which can normalize the balance of supply and demand and stabilize prices, seems unlikely.