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“Black gold” finishes the week with growth

«Черное золото» завершает неделю ростомBrent crude in London rose $0,76, while the price of WTI in new York increased by $0,54.

World oil prices reference marks grow moderately after falling to six-month lows this week. This according to the auction the morning of Friday, November 16.

So, the price of January futures for North sea Brent crude on London’s ICE Futures exchange at 8:50 in Kiev rose by $0,76 (1,14%) to $67,38 per barrel.

In turn, the price of oil WTI for December delivery in electronic trading on the new York Mercantile exchange (NYMEX) rose to $0,54 (0,96%) to $57 per barrel.

On the eve of the US Department of energy reported increases in oil reserves in the country by the end of the eighth week in a row – at 10.27 million barrels. This is the maximum rate since February of 2017.

Oil production in the US grew by 100 thousand barrels per day (b/d) to 11.7 million b/d, which is a new record.

Earlier this week, quotes for Brent and WTI per night fell by 7.1% and 6.6%, respectively. Was reached minimum values in March. Brent cost $65,19 per barrel and WTI – $55,34. Moreover, the rate of interest falling WTI in one day were the fastest for three years from September 2015.

This happened due to the OPEC report, which was downgraded growth forecast for global oil demand. The organization also said that its member-States more than compensated for the declining production in Venezuela and Iran.

Also, the prices of oil has affected the statement of the President of the United States Donald trump, who has previously called on OPEC not to reduce production levels, but also called the current oil prices are too high.

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