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Oil consolidating amid signs the joint support of the producers of the market
10/7/15
Firmed crude oil prices in the futures on Tuesday after big gains in the previous session amid signs of a possible adoption of the biggest oil producers in the world joint action to support prices, which fell to less than half last year.
He said Russian Energy Minister: Russia and Saudi Arabia had discussed at a meeting In the past week, the situation in the oil market, while the Secretary General of the Organization of Petroleum Exporting Countries decided to invite producers to cooperate to resolve the problem of oversupply.
was trading Brent crude was up eight cents at $ 49.33 a barrel by 1008 GMT. He had climbed 2.3 percent yesterday Monday.
He added WTI US 16 cents to $ 46.10 a barrel, adding to gains on Monday last and reached 1.8 percent.
said Carsten Fritsch, senior oil analyst at Commerzbank "it is likely to be the movement of the market as a result of Speculation agreement producers in OPEC and outside the cooperation. "said OPEC Secretary-General Abdullah al-Badri at a conference in London that he should be the producers of OPEC and outside to cooperate to reduce the glut of
supply.
For his part, Secretary General of the Organization of Petroleum Exporting Countries said (OPEC) Abdullah al-Badri on Tuesday that the organization believes that the oil market is improving based on the increased demand for crude oil from the Organization and declining supply growth from producing countries from outside.
He said al-Badri told reporters on the sidelines of a conference on the oil sector in London, "there is an improvement in the market situation may not last more than two years .
"Oil prices have collapsed in the last year under the big glut in the supply of crude fell as benchmark Brent below $ 50 a barrel for more than $ 115 in June 2014.
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10/7/15
Firmed crude oil prices in the futures on Tuesday after big gains in the previous session amid signs of a possible adoption of the biggest oil producers in the world joint action to support prices, which fell to less than half last year.
He said Russian Energy Minister: Russia and Saudi Arabia had discussed at a meeting In the past week, the situation in the oil market, while the Secretary General of the Organization of Petroleum Exporting Countries decided to invite producers to cooperate to resolve the problem of oversupply.
was trading Brent crude was up eight cents at $ 49.33 a barrel by 1008 GMT. He had climbed 2.3 percent yesterday Monday.
He added WTI US 16 cents to $ 46.10 a barrel, adding to gains on Monday last and reached 1.8 percent.
said Carsten Fritsch, senior oil analyst at Commerzbank "it is likely to be the movement of the market as a result of Speculation agreement producers in OPEC and outside the cooperation. "said OPEC Secretary-General Abdullah al-Badri at a conference in London that he should be the producers of OPEC and outside to cooperate to reduce the glut of
supply.
For his part, Secretary General of the Organization of Petroleum Exporting Countries said (OPEC) Abdullah al-Badri on Tuesday that the organization believes that the oil market is improving based on the increased demand for crude oil from the Organization and declining supply growth from producing countries from outside.
He said al-Badri told reporters on the sidelines of a conference on the oil sector in London, "there is an improvement in the market situation may not last more than two years .
"Oil prices have collapsed in the last year under the big glut in the supply of crude fell as benchmark Brent below $ 50 a barrel for more than $ 115 in June 2014.
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