Oil of mark WTI has moved to grow, Brent is reduced at the auction

© AP Photo / Hasan JamaliДобыча oil in the middle East. Archival photoOil of mark WTI has moved to grow, Brent is reduced at the auction© AP Photo / Hasan Jamali

Oil on Friday traded mixed, Brent is still cheaper, despite the statements of the leaders of the countries-participants of the Vienna agreement on the possible extension of the deal, WTI switched to growth on the eve statistics from the United States, according to the auction.

As at 8.43 GMT the price of January futures for North sea petroleum mix of mark Brent has decreased on 0,29%, to 61, 18 dollars per barrel. The cost of December futures for oil of mark WTI have grown on 0,24%, to 55,27 per barrel.

Rising prices in the oil markets were supported in recent months by the agreement of OPEC countries regarding the reduction of oil production. This has led to higher prices for Brent by almost 40% since June.

«Agreement on production cuts between OPEC and some non-OPEC countries, led to the decline of oil reserves and the restoration of the price level. In 2018 we expect a further rise to 75 dollars per barrel», — quotes Reuters an analyst of the Dutch Bank ABN Amro.

While the Vienna agreement expires in March 2018. Meeting of Ministers of oil and energy of all 24 States of the agreement on the reduction of oil production will take place on November 30 in Vienna. The Minister of energy of Saudi Arabia Khalid al-falih said on Thursday that by the end of March, the participating countries of the agreement will not be released on the planned level, the average for five years, «which means a sort of renewal», as quoted from the Minister’s Agency.

The participants of trading on Friday waiting for data on the dynamics of the number of drilling rigs in the U.S. for the week. For the week ended November 10, the number of drilling rigs in the US increased by nine units, or 1%, to 907 units. In annual terms, the number of drilling rigs increased by 339 pieces, or 1.7 times.Oil of mark WTI has moved to grow, Brent is reduced at the auction© RIA Novosti, Informaticompletion: from exploration to the consumer

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