Oil slightly rises in price

Нефть незначительно дорожает

Oil prices are falling because information on the reduction of production of black gold in Saudi Arabia.

Oil prices reference marks on Monday, August 6, slightly increased in the course of trading on Monday after falling on Friday, investors react to information about the oil installations in the USA and rumors of production cuts in Saudi Arabia.

The price of October futures for Brent on London’s ICE Futures exchange to 8: 15 am Kyiv time increased by $0,11 (0,15%) to $73,32 a barrel. On Friday, the contract fell $0,24 (0.33 percent) to $73,21 per barrel.

The futures price for WTI in September in electronic trading on the new York Mercantile exchange (NYMEX) had risen by this time to $0,20 (0,29%) to $68,69 per barrel. At the end of the previous session, the contract dropped in price by $0,47 (0,68%) to $of 68.49 per barrel.

We will remind, Saudi Arabia in September to reduce prices on all types of oil which are exported to the USA and the countries of the Mediterranean and Northwest Europe.

Earlier, Saudi Arabia promised to cover the deficit of oil. Supply shortage on the world market is expected in the second half of 2018 in the amount of 1.6-1.8 million barrels per day.

 

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