Oil prices lower in Asian trade on Monday as concerns about the weakening global economy that is still ongoing has been pressing energy prices, said the analyst.
AFP reported, the contract measure main New York, crude oil for the type of light sweet pengriman June to be down 90 cents to U.S. dollars 50.65 per barrel.
Meanwhile, oil Brent North Sea crude for delivery in June is also down 76 cents to be 50.91 dollars. "Where is an impairment that is still in progress in various economic activities," said Jason Feer, vice-head energy analyst Asia Pacific, Argus Media.
The decline in prices that appear after the Organization of Oil The countries (OPEC) said Sunday that the price of crude oil at this time where not sufficient to cover the investment cost of oil producers.
Meanwhile, crude oil prices show moderate increase on Thursday last week in New York, because the U.S. dollar weakened against the euro and other major currencies, making the oil dihargakan in dollars cheaper for holders of other strong currencies, said the dealer.
U.S. currency is going down on Thursday, especially against the euro, which has been passing around 1.31 dollars at 1900 GMT.
A weakening dollar makes crude cheaper for buyers using stronger currencies.
According to U.S. government data Wednesday last week, crude oil stock of the world's largest energy consumer the record increase of more than the estimate, for the sixth time the weekend in a row, to a new record high since 1990.
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