The oil is weakly more expensive to estimation of data on drilling rigs in the United States

© AP Photo / Eric GayДобыча of oil in North Dakota, USA. Archival photoThe oil is weakly more expensive to estimation of data on drilling rigs in the United States© AP Photo / Eric Gay

World oil prices rise on Monday morning on investors ‘ optimism due to a number of factors, including data on the number of drilling rigs operating in the United States, and statistics of oil reserves in the country and the International energy Agency (IEA) on the demand for raw materials, according to the auction.

As at 08.18 GMT the cost of the September futures for North sea petroleum mix of mark Brent has grown on 0,31% — to 49.06 USD per barrel. The price of August futures on WTI increased by 0.26 percent to 46.66 per barrel.

«A significant decline in oil reserves in the United States last week supported the comments made by the IEA that demand (oil — ed.) is growing stronger compared to the original estimate. The continuing increase in the number of drilling rigs operating in the United States also has suspended», — quotes Agency Reuters analysts ANZ Bank.

According to the US Department of energy, commercial oil reserves in the country (excluding strategic reserves) for the week ended July 7 fell by 7.6 million barrels, or 1.5% to 495,4 million barrels. Analysts believed that stocks fell by 0.57%, or 2.85 million barrels to 500,05 million barrels.

On Friday, the us oilfield services company «Baker Hughes, a GE Company» (BHGE) also reported that at the end of 14 July, the working week the number of drilling rigs in the U.S. remained at around 952 units. In annual terms, the number of drilling rigs grew by 505 units, or 2.2 times. The number of oil rigs rose by two pieces, or 0.26%, to 765 units. The number of gas rigs fell last week to two, or 1.06%, to 187 units.

In addition, on Thursday, the International energy Agency (IEA) raised its forecast for demand for oil in 2017, which is 160 thousand barrels per day, up to 98 million barrels per day. In the previous report, the world demand for oil is expected to reach 97,84 million barrels per day. The growth rate compared to year 2016 will amount to 1.4 million barrels per day. Oil demand in 2018 is projected to grow by 1.4 million barrels per day, up to 99.4 million barrels per day. The accelerated growth rate of countries outside the Organization for economic cooperation and development (OECD) will offset the possible decline from the OECD countries.

Source

Be the first to comment on "The oil is weakly more expensive to estimation of data on drilling rigs in the United States"

Leave a comment

Your email address will not be published.


*