Oil price rises to $ 50 a barrel

Views 45 Date 01/10/2016 - 16:15

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Oil prices climbed more than 1%, and Brent approached $ 50 a barrel, supported by optimism the first agreement of the Organization of the Petroleum Exporting Countries (OPEC) in the eight years to cut production.

And increased global London Brent crude 55 cents or 1.1% to settle at 49.24 dollars a barrel.
And increased crude West Texas Intermediate US 78 cents or 1.7% to settle at US $ 47.83 a barrel in trading Thursday in global markets.

Since the announcement of "OPEC" agreement Brent climbed about 7% US crude rose about 8% at the top of the rise over the past two days in April / April.

It agreed "OPEC" at its meeting in Algeria, on Wednesday, to cut production to between 32.5 million and 33 million barrels a day from about 33.5 million barrels now, according to expert estimates.

She said, "OPEC" The other details of the plan will be announced at the regular meeting of the organization in November next year.

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