Global Oil & Gas: Oil plunged into doubt, again!

The EIA – Energy Information Administration, the official agency of the United States which promotes energy statistics, shows the data of weekly oil reserves: Oil prices fell the previous day, but transacted above $ 50, both in London and in New York.

The falls of the last sessions are due to the fear that the OPEC agreement (Organization of Petroleum Exporting Countries) to cut production may not be successful in reducing the supply. OPEC members and other producers, such as Russia, meeting in Istanbul confirmed a “high-level technical” meeting on 28 and 29 October this year, to attempt a better understanding for what they say to be a better market equilibrium