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Oil prices fall

16 September 2016 09:04 (UTC +04:00)

Baku. Yegane Lachihzade - APA-Economics. The WTI crude oil price fell $0.30 to $43.61 a barrel.

The price of Brent crude oil dropped $0.32 to $46.27 a barrel.

The decline in oil price is caused by supposition of increase of oil transported from US, Libya and Nigeria. Libya and Nigeria said will increase the oil transportation to the world market. Military operations in these counties negatively affected the volume of oil.

By the way, Baker Hughes will publish statistics on number of oil wells in the US. This index increased within past two months.

Along with this, the market participants are attentively following the information about volume of output in the US, Canada and Kazakhstan.