Oil becomes more expensive in expectation reduce capex manufacturers

© AP Photo / Hasan JamaliДобыча of oil in Bahrain. Archival photoOil becomes more expensive in expectation reduce capex manufacturers© AP Photo / Hasan Jamali

World oil prices rise Monday morning amid an expected decline in capex by oil companies due to the relatively low cost of «black gold», according to trading data and analysts ‘ comments.

As at 08.36 GMT the cost of the September futures for North sea petroleum mix of mark Brent has grown on 0,98% — to 46,22 dollars per barrel. The price of August futures on WTI increased by 1.09% to of 43.48 per barrel.

«As prices remain low, definitely, some companies (oil producers — ed.) will nachto to adjust its forecast for capital expenditures and investments, and it slowly starts to bring the market into balance», — quotes Agency Bloomberg strategist for global markets at JPMorgan Asset Management Kerry Craig (Craig and Kerry).

Restrain the rise in oil prices published on Friday data on the us oil and gas service company Baker Hughes about another increase in the number of drilling rigs in the United States. According to the company, at the end of 23 June the working week the number of drilling rigs in the country rose by 8 units, or 0.85%, to 941 units. The number of oil rigs increased by 11 units, or 1.47% to 758 units, gas — decreased by three, or 1.61%, to 183 units. In annual terms, the rig count increased by 520 units, or more than 2.2 times.

Oil becomes more expensive in expectation reduce capex manufacturers© RIA Novosti, Informaticompletion: from exploration to the consumer

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