The price of oil increases on the signals of demand growth

© RIA Novosti / Ilya Petliurite in fotosannette the machine-rocking chair on the oil field. Archival photoThe price of oil increases on the signals of demand growth© RIA Novosti / Ilya Petliurite the image Bank

World oil prices are up Monday morning on the signals about the growth of demand for petroleum products and statistics about the reduction of drilling rigs in the United States, according to the auction.

As of 08.42 MSK price of November futures for North sea petroleum mix of mark Brent have grown on 0,14%, to 55.70 per barrel. The price rose above $ 55 for the first time since April 19 in the course of trading environment. The cost of the October futures for WTI crude oil rose by 0.10%, to 50,49 dollars per barrel.

Oil prices rise on forecasts of the organization of countries-exporters of oil, OPEC and the International energy Agency (IEA) on the growth of demand for energy and derivative products in connection with the production cuts in August. Thus, according to the IEA, the execution of the transaction for the reduction of oil production by OPEC countries increased to 82% in August from 75 percent in July. Production in the reporting month decreased by 210 thousand barrels of oil per day, to 32.67 million barrels.

In addition, the demand for oil is supported by data of the us statistics. According to BHGE, at the end of 15 September the working week the number of drilling rigs in the U.S. decreased by eight units, or 0.85%, to 936 units. In annual terms, the number of drilling rigs increased by 430 pieces, or 1.85 times.

The number of oil rigs decreased by seven, or 0.92%, to 749 units. The number of gas rigs fell for the week in one piece, or 0.53 percent, to 186 pieces.

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