Oil prices continue to rise in global markets

0603 2016
International benchmark Brent crude futures rose 1.86 dollars or 4.7 percent to $ 38.93 a barrel at the settlement on Friday.

US crude futures price of $ 1.55, or 4 percent, to $ 36.09 a barrel.

And climbed each of the indices already allocated about 10 percent during the past week, to achieve Brent second weekly gain in a row, while it was the third consecutive US crude.

Experts say the reason for this rise is due primarily to the continued decline [for the seventh week in a row in oil production in the United States.

Have official data showed falling US oil production to its lowest level since November 2014, by reaching to almost 9 million barrels per day.

Price also got support from data showing a decline in the number of oil rigs in the United States for the 11th week in a row.

Analysts also believe that there is a strong possibility to reach the major oil producers in the world, this month, an agreement to freeze the production ceiling at the January level last for a year or half a year at least.

agency all of Iraq news 2016