The price of “black gold” resumed growth
The cartel members have time to tomorrow to negotiate the necessary volumes of production decline.
Oil prices jumped on Wednesday, December 5, on the information that the Ministerial monitoring Committee of OPEC+ recommended to extend the agreement to limit oil production, but then reduced growth.
The cost of the February futures for Brent crude on London’s ICE Futures exchange rose 0.19 percent to $62,2 per barrel. The WTI crude for January on the new York Mercantile exchange (NYMEX) rose by 0.26% to $53,39 per barrel.
Informed the monitoring Committee of the OPEC+ recommended to extend the agreement to limit oil production for another six months – until the end of June 2019. Reduction possible from the level of oil production in September-October of 2018, he said.
The cartel members have time to tomorrow to negotiate the necessary volumes of production decline. It is not excluded that the reduction will reach 1 million barrels of oil per day.
Last week Brent fell below $ 58 a barrel, hitting a new lows from October 2017.
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