Oil prices have moved to the rapid growth
Reduces this morning, oil prices moved to an explosion, add about 1%.
Price of December futures for Brent crude on London’s ICE Futures exchange to 12:02 MSK rose $ 0.53 (1.06%) – up to $ 50.72 per barrel.
Futures price for WTI crude oil for November in electronic trading on the New York Mercantile Exchange (the NYMEX) has increased this time by $ 0.42 (0.87%) – up to $ 48.66 per barrel.
Previously a small reduction in the price of oil experts associated with the signals of the conservation of raw materials supply growth in the global market.
Traders continue to assess the results of the meeting of OPEC countries, which was held last week.
"The importance of the agreement on the reduction of production achieved by the organization, not to the amount of the expected decline in oil production, and in the fact that Saudi Arabia and OPEC returned to active management of the oil market, – quotes Bloomberg analyst Societe Generale (PA: SOGN) SA Mike Wittner. – It is difficult to overstate the importance of this factor".
OPEC at a meeting held in Algiers agreed to reduce oil production from the current 33.24 million barrels per day to 32,5-33 million barrels per day.
The final written confirmation arrangements must be made at the official meeting of the cartel on November 30 in Vienna. At the same time decisions will be made on quotas for each of the OPEC countries and the reduction of defined terms
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