Oil prices rise by 6%

Tuesday 23 February 2016 | 11:04
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BAGHDAD / ... oil markets closed up 6%, in early trading week on Monday.

Determine the settlement price of the futures contract for Brent crude to rise to $ 1.68 a barrel, or 5% at $ 34.69, and closed the US crude contract high of $ 1.84, equivalent to 6% at $ 31.48 a barrel.

Analysts say the reason for this significant rise is due to the dealers bet on a decline in US shale oil production and the current wave rally in the stock.

The markets began the week a rebound in Asian transactions, after US data on Friday showed a decline in the number of oil rigs operating at the low level recorded in December / December 2009 after declines for nine consecutive weeks.

The prices received additional support from the words of the International Energy Agency said the US shale oil production could fall 600 thousand barrels per day this year and 200 thousand barrels per day in 2017.

Fatih Birol, director of the International Energy Agency, said at a conference in Houston that the price of $ 80 a barrel would be appropriate for producers and Almsthlkin.anthy 12