Excess oil still hurting commodity

As the Offshore Panorama comes the excesses in reporting oil reserves have hampered recovery in "black gold" in the world. The glut has been so damaging to the rising prices of oil, which not even the global pact, held by members of Opec and producing countries, has been able to stabilise the value of the oil.

To make the situation more critical, Libya can resume exports from one field in the southwest of the country after closing a deal with rebels who two weeks ago blocked ducts and operating areas. What can increase the excess oil in the world.

In another day of fall, the oil barrel WTI, in New York, in contracts for delivery in June, showed the reduction of 65 cents on Thursday, worth $48.97 dollars. In London, Brent crude fell 38 cents a barrel to $51.44 dollars, also in contracts for June.

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