US crude oil futures dipped below $ 46 a barrel in early Asian trade today after data increased the reserves of black gold and the stronger US dollar pushed prices
Public holidays in China and Hong Kong on Thursday is expected to keep markets calm.
US crude for October delivery was down 30 cents to $ 45.95 a barrel.
The Brent crude oil for October delivery fell 22 cents to $ 50.28 a barrel.
Production by OPEC members fell from record high levels to 31.71 million barrels per day in August, after interference in Iraq stopped supply growth, according to a survey of Reuters.
Exports of crude oil from West Africa to Asia are expected to fall to 1.68 million barrels per day (bpd) in September, the lowest since August 2014, data showed supplies and surveys of merchants
It is possible that the decrease in production of crude oil to support the black gold as a result, prices may remain to move in a narrow range of $ 50 per barrel
Jr Trader E. Dimitrov
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