Low shale oil production alters Price Map
[rtl] TOKYO (Reuters) -
Oil futures rose for a second straight session on Tuesday, US crude rose to its highest level in seven months, with the market focus on the cases of supply disruptions that prompted Goldman Sachs to issue optimistic estimates of prices in the near-term pessimism after a long time.
Crude oil prices made gains in most of the last two weeks sessions thanks to the cases of supplies in Nigeria and Venezuela and other disruptions and falling US production and declining Canadian crude supplies after the outbreak of fires in the oil sands area in Alberta.
The increased price of WTI US mediator in futures 67 cents at $ 48.39 a barrel by 0635 GMT , its highest level since October. The price of the global London Brent crude futures 37 cents at $ 49.34 a barrel , near its highest level in six months of $ 49.47 a barrel set on Monday. Said Amrita Sen , analyst at Energy Aspkedz in a research note that thecases of disruption of production in May , will stop production of 3.2 million barrels of oil a day on average.
The cases prompted Goldman Sachs production downtime to change the forecast for theoil market drastically. It is expected the American Bank is that US crude up to $ 50 a barrel in the second half of 2016 after it warned for a long time from the arrival of global stocks to maximum power and the collapse of oil prices once again to reach $ 20 a barrel.
Received the oil market also supported after the US Energy Information Administration said It is expected that the shale oil production decline in June for the eighth month in a row.[/rtl]