The price of oil is again rising in anticipation of the news from OPEC

Стоимость нефти вновь растет в ожидании новостей от ОПЕК

World oil prices on Wednesday moved to growth after falling a day earlier by almost 4% amid expectations of the outcome of the OPEC meeting, which will take place later in Vienna, according to the auction.

As 08.46 GMT the price of February futures for North sea petroleum mix of Brent increased by 0.70 percent, to 47,65 USD per barrel. The price of January futures for WTI rose by 0.57% to 45,49 USD per barrel.

In Vienna on 30 November will be the official OPEC meeting, where the organization can finally resolve the issue of restrictions on its level of oil production. In late September, the cartel’s informal meeting in Algeria agreed on a restriction of output in the range of 32.5-33 million barrels of oil per day, but on specific limits for each of the countries of the organization while there is no agreement.

The uncertainty prevailing around whether OPEC countries to reach a final agreement, is maintained. On Tuesday, the media reported that Iran plans to freeze production in early 2017 after regain market share. At the same time, the Minister of oil of Iran Bijan Zanganeh said that his country is not ready to cut production, writes Reuters.

According to Zanganeh, primarily to reduce the amount of oil production should the country that increased it, while Iran was under international sanctions. In particular, on Tuesday Iran in a letter to OPEC has said it wants to Saudi Arabia lowered its oil production by 1 million barrels per day, Reuters reported, citing sources familiar with the contents of the letter. This is far more than Riyadh, said the interlocutors of the Agency.

“We expect that OPEC will reach agreement… In our opinion, the attitude of OPEC to reach an agreement remains strong,” — quoted Reuters the opinion of an unnamed analysts ANZ Bank.

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