Oil rises with the possibility of a move .. producers, Russia is optimistic
Oil rises with the possibility of a move .. producers, Russia is optimistic about talks with Saudi Arabia
08/16/2016 (0:01 pm) - The number of readings: 55
Reuters / New York-Moscow
Oil prices rose on Monday to its highest level in almost a month and went up the global London Brent crude more than one percent above the level recorded at the beginning of August \ August after increasing speculation about the possibility of producing countries take action to support prices in a market suffering from oversupply of raw.
It rose futures contract crude International benchmark Brent crude to its highest level during the month at $ 47.67 a barrel on Monday before re-landing to $ 47.10 a barrel by 0943 GMT, up 13 cents from the last adjustment and 11.3 percent rate over the last closing price in July / July.
Futures contracts rose for WTI to a high level of $ 45.15 a barrel before falling to $ 44.63 a barrel, but still 14 cents higher on the last settlement price. And ascended WTI more than seven percent in August \ August.
But analysts are skeptical that the market can maintain its durability, especially in the absence of any Baward little fast receding to the oversupply of crude, which later producers over the past two years.
Baker Hughes showed data released last Friday, the number of drilling rigs operating in the United States rose by 15 last week platform for up to 396
While this figure is at least a lot about 1600 platform was engaged in 2014 by the direction of prices to go down the number has steadily risen from a low of 316 platform was recorded in late May / May with American producers cope with low prices.
In the Middle East, the newspaper quoted Russian Energy Minister Alexander Novak as saying that "his country is in consultations with Saudi Arabia and other countries to stabilize the market, adding that the door is still open for further negotiations to freeze production" if the need called for it. "
In an interview with the daily newspaper Novak "The rebalancing of the market completely, said an elusive thing has not only happen in 2017."
The newspaper quoted Novak as saying: "With regard to cooperation with Saudi Arabia, the dialogue between our two countries evolve significantly both in the multilateral structure or in the framework of the bilateral track."
He continued, "we cooperate within the framework of consultations on the situation in the oil market in the OPEC countries and the producing countries outside OPEC, and are determined to continue the dialogue to achieve stability in the markets."
Novak said "are ready to achieve the widest possible coordination on this issue and develop common measures to stabilize world oil markets provided that such measures should not be limited with a time stamp."