The price of oil on Monday shows growth amid reports about the possibility of holding new negotiations to freeze production levels of member countries of OPEC.
At 06.43 GMT the cost of October futures for North sea petroleum mix of mark Brent have grown on 0,16% – to 44.34 USD per barrel. Price of the September futures for WTI crude oil increased by 0.26% to 41,91 USD per barrel, reports RIA “Novosti”.
Oil-producing countries following the meeting in Doha on 17 April failed to agree on the freezing of the production level, in particular due to disagreement within OPEC. At the next meeting in Vienna on 2 June, the OPEC countries did not come to an agreement on changing the policy of the cartel in the field of oil and are unable to set a new quota for oil production.
On Friday several media outlets reported that the cartel at the meeting in September, the International energy forum in Algeria can resume negotiations on the freezing of the production level of “black gold”. The Ministry of energy told RIA Novosti that she had not yet received any official proposals about the organization of the meeting of the countries-manufacturers of oil.
According to analysts, the world prices for “black gold” began to rise amid renewed talk of negotiations. “OPEC members, including Venezuela, Ecuador and Kuwait, as they say, stand behind the resumption of negotiations. But just as in previous times, the meeting seems doomed to failure, given that key members of OPEC (such as Saudi Arabia, Iraq and Iran) persist in their battle for market share, increasing exports at a rapid pace,” commented Reuters, Director of commodity research in ClipperData Matt Smith.
Slightly keeps the price of oil from higher growth in the us oil and gas service company Baker Hughe about the growth of the number of drilling rigs in the United States. So, at the end of the August 5 work week the number of drilling rigs in the country has increased by one, or 0.21% to 464. In annual terms, the index dropped 420 points, or 47.5 per cent. The number of oil rigs rose by seven, or 1.87%, to 381. The number of gas rigs fell five, or 5.8%, and amounted to 81 units.
