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Monday, October 24, 2016

Oil prices have ignored the message of consent Saudi Arabia to limit production

To eight mornings Moscow time at the auctions in new York the price of oil WTI with delivery in July has decreased on 0,1% – to $48,95 per barrel. The August futures for Brent crude by this time at auction in London has risen on 0,2% – to $49,82 per barrel.

Oil prices have stabilized waiting for the decision of the representatives of OPEC countries, which hold the conference in Vienna.

Earlier it was reported that Saudi Arabia is ready to consider the possibility of establishing limitations on the ultimate level of collective production. Nigeria, Qatar, Algeria and Venezuela also support this proposal. Iran, declaring their intention to achieve in the near future the pre-sanctions levels of 4 million barrels a day, opposed. On Wednesday, the newspaper reported the Wall Street Journal.

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