Oil re-landing after recovering stuck with non-OPEC production cut decision

Crude oil prices came under new pressure on Monday and Hui global measurement Brent crude oil to its lowest level in five years near $ 61 a barrel after OPEC confirmed its determination not to cut production despite the glut Alaalmi.uaaud Brent supply and oil US Hbothma after last week's losses, which saw prices drop World more than 10 per cent. Prices rose in morning trading in New York after the news of the closure of two ports oilfields large in Libya because of clashes between armed factions loyal to the two governments feuding in Albulad.gar that oil was at a later gains time and returned Brent fell and fell US oil nearly two dollars a barrel by noon in New York. Some dealers landing attributed to caution ahead of the Fed meeting (US central bank), while others decline attributed to confirm OPEC that it will not conduct cuts Anteg.oukal Abdullah al-Badri, Secretary General of the Organization of Petroleum Exporting Countries (OPEC) on Sunday that the organization may decline exceeded in oil prices and to keep its production unchanged, adding that the market weakness is not consistent with the fundamentals of supply and demand, and perhaps driven Alamadarbon.hobt futures price for Brent crude for January delivery settled 79 cents, or 1.28 per cent to $ 61.06 a barrel. He had risen in earlier trading up to $ 1.40 to $ 63.25 after the hue to $ 60.28 its lowest level since July 2009.onzel price of US crude oil futures for January delivery settled at US $ 1.90, or 3.29 per cent to 55.91 dollars a barrel after it fell earlier in the session of $ 55.87 to its lowest level since May 2009.