The stability of global oil prices, with the continued reduction of production
[rtl]London / follow-up to the morning
Oil prices steadied on Tuesday with the support of the efforts that led OPEC to cut production, while others rise in production led to crude futures remain in a narrow moving in since the beginning of the year scale.
By 0830 GMT , futures have been trading for crude International benchmark Brent crude at $ 55.89 a barrel , up 30 cents from the last settlement price.
Futures rose US light crude 25 cents to $ 53.18 a barrel.
Experiencing crude prices in the global stock markets Tzbba in prices as a result of the instability of supply and demand in its markets around the world.
Van Alkiesaan fell two percent on Monday , and both are currently in the middle of the range of five dollars , which is moving in since early December.
Agreed Organization of Petroleum Exporting Countries (OPEC) and other producers including Russia to cut 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.
But what has undermined these efforts the rise in production in the United States , where he led increased drilling activities and in particular by the shale oil producers to higher overall production to 8.98 million barrels per day , up 6.5 percent since the middle of 2016 to the highest level since April last year.
Said Ric Spooner , chief oil market at CMC Markets in Sydney: "Oil seems trapped in a narrow range for the time being and concentrate mainly on private supply considerations."[/rtl]