The price of oil on Friday grows, continuing the highest since mid-July day increase of nearly 5% in the previous session earlier, caused by forecasts of the International energy Agency (IEA) and statements of Saudi Arabia, according to the auction.
As at 08.00 GMT the cost of October futures for North sea petroleum mix of mark Brent has grown on 1,22% – to 46,60 USD per barrel. Price of the September futures on WTI increased by 1.47% – to 44.13 per barrel, reports RIA “Novosti”.
On Thursday, the cost of the standards has risen by almost 5% – the largest one-day increase since mid-July; the price of oil Brent for the first time since July 22, exceeded $ 46 per barrel.
The IEA on Thursday in its July forecast, the market of “black gold” has informed that expects to reduce the world’s oil reserves in the coming months. This increase in oil demand, especially due to the growth of the “appetite” on the part of oil, will stimulate further rebalancing in the market.
The Minister of energy, industry and mineral resources Saudi Arabia Khalid al-falih said Thursday that his country may take part in coordinated actions of OPEC and the major exporting countries, to help balance the market. He believes that the meeting on the sidelines of the International energy forum in September in Algeria is an opportunity for this. On Monday, the President of OPEC, Minister of energy of Qatar Mohammed bin Saleh al-Sada announced plans of the cartel to meet in Algeria.
“The markets obviously received support as part of the report, the IEA, and from the statements of the Minister of oil of Saudi Arabia”, – quotes Reuters the senior partner of Commodity Research Group Andrew Lebov.
