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[size=30]New high for oil prices today[/size]
14/02/2017 05:18 | Number of Views: 61
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Direction Press / Agencies
Oil prices rose on Tuesday, due to the continuation of "OPEC" countries to cut production, despite the increase in the production of other oil-producing countries outside the organization.
The price of the global London Brent crude futures today, by 30 cents and reached 55.89 dollars per barrel, while futures for US light crude prices rose 25 cents to $ 53.18 and reached a barrel.
The rise in production in the United States to increase drilling activities, especially by the shale oil producers, reaching total production of about 8.98 million barrels per day, up 6.5 percent since mid-2016.
The Organization of Petroleum Exporting Countries "OPEC" and other producers including Russia agreed to reduce production by about 1.8 million barrels per day during the first half of 2017 in an effort to curb oversupply in the global oil markets.
It is noteworthy that already allocated indices have decreased two percent yesterday, and both are currently in the middle of the range of five dollars that the price of crude is moving since early last December.
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