Oil rises for a fourth day to $ 43.68 a barrel

(Encyclopedia of this Day News | Iraq News ) - Economy
Since 27.06.2017 at 12:04 (Baghdad time)

Follow-up to the balance of News

Oil prices rose for a fourth straight session on Tuesday, with the trend of investors to cover the city centers despite concerns about the continued supply glut in global markets.

The increased global London Brent crude futures 35 cents or the equivalent of 0.7 percent to $ 46.18 a barrel by 0715 GMT.

The West Texas crude rose US median 30 cents, or 0.7 percent in futures to $ 43.68 a barrel.

These gains mean that the market is a bit high since the beginning of this week, after having remained low during most periods in the past month.

And trying Organization of Petroleum Exporting Countries (OPEC) and its partners to reduce oversupply in the global crude markets by reducing production.

The group agreed with 11 countries from exporters from abroad in May to extend the reduction of production by 1.8 million barrels per day until the end of March 2018.

Despite the production cut, which began in January, markets are still the abundant supply due to increased production in places Okhry.anthy 29 / A 43

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