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Oil rises with the possibility of a move .. producers, Russia is optimistic about talks with Saudi A



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Oil rises with the possibility of a move .. producers, Russia is optimistic about talks with Saudi A

Post by rocky on Tue 16 Aug 2016, 3:17 am

Oil rises with the possibility of a move .. producers, Russia is optimistic about talks with Saudi Arabia

 Reuters / New York-Moscow 

Oil prices rose on Monday to its highest level in almost a month and went up the global London Brent crude more than one percent above the level recorded at the beginning of August \ August after increasing speculation about the possibility of producing countries take action to support prices in a market suffering from oversupply of raw. 
rose futures contract crude International benchmark Brent crude to its highest level during the month at $ 47.67 a barrel on Monday before re - landing to $ 47.10 a barrel by 0943 GMT , up 13 cents from the last adjustment and 11.3 percent rate over the last closing price in July. 
the futures contracts rose for WTI to a high level of $ 45.15 a barrel before falling to $ 44.63 a barrel , but still 14 cents higher on the last settlement price. And ascended WTI more than seven percent in August \ August. 
But analysts are skeptical that the market can maintain its durability, especially in the absence of any Baward little fast receding to the oversupply of crude , which later producers over the past two years. 
Showed Baker Hughes data published last Friday, the number of drilling rigs operating in the United States rose by 15 platform last week to up to 396 
while at least this figure is far from the 1600 platform was engaged in 2014 by the direction of prices to go down was the number has risen steadily from a low level when 316 platform was recorded in late May / May with acclimate American producers with low prices. 
in the Middle East , the newspaper quoted Russian energy Minister Alexander Novak as saying that "his country is in consultations with Saudi Arabia and other countries to stabilize the market , adding that the door is remains open for further negotiations to freeze production "if the need called for it." 
in an interview with the daily newspaper Novak " the rebalancing of the market completely , said an elusive thing was not only happening in 2017 , " the 
newspaper quoted Novak as saying : "with regard to cooperation with Saudi Arabia, the dialogue between our two countries evolve significantly both in multilateral or bilateral track structural framework. " 
He continued , " we cooperate within the framework of consultations on the situation in the oil market in theOPEC countries and the producing countries outside OPEC , and are determined to continue the dialogue to achieve stability in the markets. " 
Novak said " are ready to achieve the widest possible coordination on this issue and develop common measures to stabilize world oil markets provided that such measures should not be limited with a time stamp."

    Current date/time is Thu 27 Oct 2016, 7:53 am