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Oil prices fall when the number of American vans increases



© Reuters. FINANCIAL PHOTO: Jack Pump Oil Field Pumps Field Near Calgary

SINGAPORE (Reuters) – Oil prices have fallen by more than 1% on Monday, refinery, the US state of Illinois, led to the closure of a large crude oil distillation unit

United States crude oil futures Intermediate (WTI) futures were at levels of 51.92 dollars a barrel at 0144 GMT, which is a drop of 80 cents , or 1

.5 percent, since their last settlement

International futures fell 71 cents , or 1.1 percent, to 61.39 dollars a barrel. 19659004] In the United States, last week's energy companies increased the number of oil platforms operating for the second time in three weeks, Baker Hughes Weekly reported.

Companies added 7 oil platforms during the week to February. 8, bringing the total to 854, indicating a further increase in production, which is now a record 11.9 million barrels per day.

WTI prices were also weighted by the closing of 120,000 bpd (CDU) crude distillation at Phillips 66's Wood River, Illinois, a refinery after a fire on Sunday.

In other places, the head of Russia's oil giant Rosneft, Igor Sechin, tells Russian President Vladimir Putin that the deal by Moscow with the Organization of Petroleum Exporting Countries (OPEC) to hold production is a strategic threat and plays in the hands of the United States .

The so-called OPEC + deal has been in place since 2017 to overcome the global reach of supply. It has been prolonged several times, and according to the latest deal, participants have reduced production by 1.2 million barrels by the end of June.

OPEC and its allies will meet in Vienna on 17-18 April to review the pact.

Preventing the fall in crude oil prices are even more serious US sanctions against Venezuela targeting the state oil company PDVSA.

Venezuela's issues continue to support prices, and PDVSA has said it wants to secure new markets for its after the US imposed additional sanctions on the country, ANZ said on Monday

(GRAPHICS: US drilling – https://tmsnrt.rs/2Tm4u4I)

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