High oil prices optimistic meeting Algeria

However , the insistence of Algeria and Venezuela have access to payment markets to be optimistic that there is a subject of debate and an agreement could be reached by the meetings of the Algiers Agreement.
Oil prices are down since June 2014 , while tumbled by more than half to increase production and exports compared to weak demand for crude.
The estimated excess supply in the oil market by about two million barrels a day, even with the absence of much of Nigeria 's oil due to unrest in the Niger Delta and the absence of most of the Libyan oil market.
Meeting in Algeria, aware that more than half a million barrels per day of Nigerian oil return to the market and the prospects for the return of the production and export of Libyan oil could gradually increase the excess supply , including airing more prices in the absence of higher demand growth well.
This constitutes another pressure factor gives pressure Algeria and Venezuela to reach an agreement momentum could result in result.