Oil is cheaper on the outcome of the OPEC meeting+

© RIA Novosti / Alexei Danceparty in photobacteria oil. Archival photoOil is cheaper on the outcome of the OPEC meeting+© RIA Novosti / Alexei Danceparty the image Bank

NYMEX crude fell Monday morning as investors took profits obtained in the course of the rally of oil prices on the background of the meeting of the monitoring Committee of OPEC, according to the auction.

As of 09.08 MSK price of November futures for North sea petroleum mix of mark Brent has decreased on 0,04%, to 56.40 per barrel. The cost of the November futures for WTI decreased by 0.14% to 50.59 per barrel.

On Friday in Vienna, a meeting of the Ministerial monitoring Committee on the implementation of the agreement by OPEC and several non-organization of States on the reduction of oil production. The Ministers of the countries entering into the OPEC agreement+ to reduce oil production, reported a high level of execution of the transaction and stated that it will continue to monitor the volume of oil exports.

Meeting of the Ministerial monitoring Committee of the Vienna trades in November will be held on the eve of 173 summit of OPEC. Earlier it was reported that he will be held in Vienna on 30 November.

OPEC and a number of not members of the organization countries agreed in late 2016 in Vienna on the reduction of its oil production to total 1.8 million barrels per day from October levels, of which 300 thousand are in Russia. The agreement was concluded for the first half of 2017. In may, its validity was extended for nine months until the end of March 2018.

Some support for oil prices have Baker Hughes data, a GE Company (BHGE) changes in the number of drilling rigs in the United States. So, for the week ended 22 September, the number of drilling rigs in the country decreased by one, or 0.1%, to 935 units. In annual terms, the number of drilling rigs grew by 424 pieces, or 1.83 times. The number of oil rigs decreased by five, or 0.67%, to 744 units. The number of gas rigs rose for the week on four pieces, or 2.2%, to 190 pieces.

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Oil is cheaper on the outcome of the OPEC meeting+© RIA Novosti, Integratiebeleid in photomontaged forces in the world oil market