Oil rises supported the possibility of extending the OPEC agreement to cut production
Date: 17/02/2017 13:56
Information / Baghdad ..
Oil prices rose on Friday, with support from a report that the Organization of Petroleum Exporting Countries (OPEC) production cuts may be extended, which aims to curb the glut of global supply agreement.
By 0750 GMT, it was the World London Brent crude traded in the futures price of $ 55.77 a barrel, up 12 cents from the previous settlement price.
Rose WTI US mediator in the futures seven cents to $ 53.43 a barrel.
And working OPEC and other producers outside the organization, including Russia to cut production by about 1.8 million barrels per day during the first half of 2017 and it is estimated that the proportion of OPEC's commitment to the agreement nearly 90 percent.
The cuts aimed at curbing oversupply, which put pressure on the market since 2014.
To contribute to the rebalancing of the market effective cooperation from OPEC sources told Reuters that reducing the supply agreement may be extended if it shows all the top producers. ""
At the present time we are still stocks are high and supply levels, especially in the United States where the increased production has helped push crude and fuel stocks to record levels. Finished / 25 p.