Oil climbs above $ 35 after welcoming Iran's proposal to freeze production levels

Dated: 02/21/2016 Sunday 7:29

Follow-up / Iraq today
The price of oil rose above $ 35 a barrel, after welcoming Iran, Russia, Saudi Arabia plans to freeze production levels and a report showed a surprise drop in oil inventories Alomirkah.ujae this rise after gains in the previous session, oil and 7%,
But analysts said the market overreacted to support Iran to freeze production and that move Russian Arabia will not reduce the global surplus on Alorjeh.oppema ascended International benchmark Brent dollars in the futures to $ 35.50 a barrel, but gains were trimmed noon to trade at $ 35.26 a barrel an increase of 76 cents, and it was crude rose 7.2% at the close of the previous session, US crude 88 cents and rose to $ 31.54 for Brmel.okan Iraqi oil Minister Adel Abdul-Mahdi, announced last Thursday (February 18, 2016), that the discussions will continue between OPEC and producers are not members , stressing that the convergence step towards organizing Alanteg.waltqy Iranian oil Minister Bijan Zanganeh, last Wednesday (February 17, 2016), with his counterparts from Venezuela, Iraq, Qatar, confirmed that the proposed production ceiling should be the first step to bring stability to the market.