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The price of oil increases due to reduction of supply on the world market

Цена на нефть растет на фоне сокращения поставок на мировой рынок

Oil prices on the stock exchange of fuel in new York grow and continue the trend of the previous day. In the markets less raw material, and oil stocks in U.S. fall, misleading brokers.

A barrel of oil, West Texas Intermediate deliveries for may on the NYMEX fuel exchange in new York is estimated at 51,39 dollar, adding to the price 36 cents, or 0.7 percent. Brent with deliveries in June on the fuel exchange ICE Futures Europe in London increased by 30 cents, to $54,47 per barrel.

January continues to reduce the supply of oil to the world markets of fuel. Raw material production by OPEC and the countries, members of the cartel must be reduced by 1.8 million barrels per day. This position must act first six months of 2017. Agreement to reduce oil supply cartel may be extended and the second half of the year. A decision on this issue can be taken at the may meeting of the cartel.

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“The likelihood that OPEC and other oil producers not part of the cartel, will continue the agreement on the reduction of supply of raw materials also for the II half of the year, is support for the quotations of oil,” said RIC Spooner, chief market analyst at CMC Markets in Sydney.

Meanwhile, declining U.S. oil reserves – it follows from the report of the independent U.S. Institute of Fuel (API). API has published on Tuesday a report that says oil reserves in the U.S. fell last week by 1.83 million barrels.

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On Tuesday, after 17.30 your inventory will represent the U.S. Department of Energy (DoE).

Analysts predict that oil reserves fell by 150,000 barrels to a record level 533,8 million barrels. From the beginning of 2017, these stocks rose to 55 million barrels.

Oil on the NYMEX in new York rose in the previous session for 79 cents, that is 1.6 percent, to $51,03 per barrel, the highest level since the seventh of March.

Last week, U.S. oil added to the price of 2.6 dollars, it is 5.5 percent.

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