Oil prices fall in anticipation of the meeting by agreement of OPEC+

© AP Photo / PRNewsFoto/Redhawk Investment Group, LLC, ShutterstockДобыча oil. Archival photoOil prices fall in anticipation of the meeting by agreement of OPEC+© AP Photo / PRNewsFoto/Redhawk Investment Group, LLC, Shutterstock

World oil prices fall on Monday morning on expectations of a meeting of Ministers of oil and energy on the deal on the reduction of oil production OPEC+, according to the auction.

As of 7.57 MSK price of January futures for North sea petroleum mix of mark Brent has decreased on 0,26% — to 62.56 per barrel, the price of January futures for WTI oil dropped by 0.16% to 56,62 dollars per barrel.

Meeting of Ministers of petroleum and energy States of all 24 agreement to reduce production of «black gold» will be held in Vienna on 30 November. Traders worried about whether the meeting made a decision about the renewal of the agreement.

«The OPEC remains the key factor influencing the market at the end of the year», — analysts say the Bank Morgan Stanley, quoted by Reuters. However, in their opinion, there is a risk that the decision on the extension of the deal will be delayed.

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 in October last year, of which 300 thousand are in Russia. The agreement was concluded for the first half of 2017 with possibility of extension. In may, its validity was extended for nine months until the end of March 2018.

At the same time, investors continue to react to the data the us oil service company Baker Hughes, a GE Company (BHGE) of rigs in the United States. According to BHGE, at the end of 17 November working week the number of drilling rigs in the country rose 8 pieces, or 0.88% to 915 units. In annual terms, the number of drilling rigs grew by 327 units, or 1.6 times. The number of oil rigs has not changed for a week, staying at 738 pieces. The number of gas rigs increased by 8 units, or 4.7%, to 177.

Oil prices fall in anticipation of the meeting by agreement of OPEC+© RIA Novosti, Integratiebeleid in fotomonster and objectives of OPEC

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