High oil prices to $ 41

March 10, 2016 16:34
Number of readers: 8

Oil prices surged by up to 5%, on Wednesday, trading in global markets, to settle at this level, almost, on Thursday.

And it closed the international London Brent crude contracts, on Wednesday, up 1.42 dollars, or about 4% to $ 41.07 a barrel.

And ended the US oil contracts to the nearest trading session high of $ 1.79, or about 5% to maturity are recorded at the settlement of $ 38.29 a barrel.

But today we are witnessing a stable market to some extent, as determined by Brent price at US $ 40.9 and US crude at $ 38.1 in morning trading.

And deliver oil support from speculation that the largest crude oil producers may soon agree not to exact production ceiling is exceeded. The achieved oil gain of about 50 percent from its lowest level in 12 years, which aired it before more than two months after it pledged to Saudi Arabia, Qatar and Venezuela, members of the Organization "OPEC" in addition to Russia - a major producer outside the Organization - to freeze supplies at January levels / second if others cooperate producers.

Experts also say that one of the reasons for high prices due to the continuous decline for the eighth consecutive week 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 shrinking number of oil rigs in the United States for the 12th week in a row.