Oil producers ' expectations rise recorded by the market

2016-08-15 at 09:08

Pursue balance news

Oil prices surged upward, at the start of trading Monday, after increased speculation about a possible move by producing countries to support prices, in a market suffering from increasing the supply of oil.

Futures contracts rose international Brent 16 cents to $ 47.13 per barrel at 12:00 GMT on the last level when closing, and more than 10 percent above the last closed in July.

Crude futures rose to West Texas intermediate, the US 18 cents, to $ 44.67 a barrel from the last close.

The Bank said "eh." z, Monday, oil rose least with accelerated speculation of possible OPEC production freeze, adding "Saudi Arabia indicated its willingness to discuss market stability during informal talks of OPEC next month