Oil prices, the highest level in 2016 above $ 43 a barrel

The number of visits: 107 Published on: 12/4/2016, 21:26 Published by: Messenger of Delphi

Oil prices rose Tuesday to its highest level in 2016 above $ 43 a barrel, with the support of the hopes of agreeing on steps to address the oversupply of oil producers during the meeting, in addition to the dollar's decline and new signals on the strength of demand in China.

It meets Producers from the Organization of Petroleum Exporting Countries [OPEC] and outside in the Qatari capital Doha on Sunday, next to discuss the installation of production, while the dollar fell earlier in the day, its lowest level in nearly eight months against a basket of currencies before recovering.

And increased global London Brent crude 47 cents to $ 43.30 a barrel, after hitting its highest level since the beginning of the year at $ 43.58 a barrel earlier in the session, the US light crude rose 20 cents to $ 40.56 a barrel.

The Director-General of the Iraqi Oil Marketing Company Sumo Falah al-Amiri said Tuesday he was "confident that the Doha meeting will yield an agreement to install the production, which would be an indication that prices have reached the bottom.

The prices also received support from the rise in car sales in China, a new sign of the increased demand for gasoline in the second largest consumer in the world as well as to the intention of thousands of workers in the oil and gas sector in Kuwait to engage in a strike from Sunday.