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Oil prices are falling in the wake of US rig count, Illinois refinery fire By Reuters



© Reuters. FILE PHOTO: An oil pump jack oil solvent in a field near Calgary

By Henning Gloystein

SINGAPORE (Reuters) – Oil prices have fallen by more than 1 percent on Monday the drilling activity of the US and as a refinery fire resulted in the state of the United States of Illinois in closing a large crude cleaning unit.

US The West Texas Intermediate (WTI) crude futures hit $ 51

.92 per barrel at 0144 GMT, down 80 cents, or 1.5 percent, from their last settlement.

International futures dropped 71 cents, or 1.1 percent, to $ 61.39 a barrel. [SaEstadosUnidiscoveryenerfromthemonthsincreasefromthemonthsofthreeofthreeofthreeofthreeofthreeofthreeofthreeBakerHughesofthayday

Companies have added 7 oil rigs in the week to February. 8, bringing the total to 854, pointing to a further increase in production, standing on a record of 11.9 million bpd.

WTI prices were also given a closing of a 120,000 barrels per day (CD) unit at Phillips 66's Wood River, Illinois, refineries after a Sunday fire.

On the other hand, the head of Russian oil giant Rosneft, Igor Sechin, wrote to Russia's President Vladimir Putin who said Moscow's deal with the Organization of the Petroleum Exporting Countries (OPEC) to avoid output is a strategic threat and plays in the hands of the United States.

The so-called OPEC deal has been set since 2017, aiming to reining in a global overhang supply. It has been expanded several times and, under the latest deal, participants cut output of 1.2 million bpd until the end of June.

OPEC and its allies will meet on April 17-18 in Vienna to review the agreement. [19659004AssociationresultscriticalresultsheashedremovableresultsVenezuelansagtestrightshotsportsportsPDVSA

"Venezuela issues continue to support prices." According to ANZ bank on Monday.

(GRAPHIC: US ​​oil production and drilling levels – https://tmsnrt.rs/2Tm4u4I)

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