Oil prices above $ 41 a meeting with the support of producers and the falling dollar


Roudao - Erbil

Crude oil rose above $ 41 a barrel for a short time on Thursday, and just shy of its highest level since the beginning of the year, thanks to the planned meeting to be held by some of the top producers in the world next month to discuss the market support.

It is scheduled to hold oil producers in the Organization of Petroleum Exporting Countries (OPEC) and outside, including Saudi Arabia and Russia, the largest exporters of crude in the world talks on April 17 in Qatar on a plan to install a production which increases the likelihood of the conclusion of the first agreement on global supplies in 15 years.

By 14:29 GMT, ascended International benchmark Brent crude 60 cents to $ 40.93 a barrel, after rising earlier to $ 41.44 a barrel. Crude rose 51 percent from its lowest level in 12 years of $ 27.10 a barrel hit in January. Brent reached its highest price since the beginning of the year on 8 March, when the price of a barrel to $ 41.48.

US crude rose US $ 1.04 to fetch up to $ 39.50 a barrel.

The dollar fell after the statement of the Federal Reserve (Fed) on Wednesday, which reduced expectations of higher interest rates by June.

And it reduces the dollar's decline from the cost of goods denominated in US currency to holders of other currencies, while oil supports.

The oil also gained strength from a smaller increase than expected US inventories albeit US Energy Information Administration said Wednesday that crude inventories are still at a record level.