October futures for Brent crude oil prices rose on the London exchange ICE by 0.32% and amounted as of 10:25 Moscow time repossessed a 50.01 per barrel. This is evidenced by data exchange. Thus, for the first time since July 5, oil prices crossed the psychologically important level of 50 dollars per barrel. American WTI crude oil rose 0.8 percent to 47.18 per barrel.
Independent analyst Mikhail Zak said “the Tape.<url>” that the price increase is due to the displacement of the moods of speculators. “Until 2014, the market has valued the oil reserves as “half empty glass”, and prices were rising. Then the emergence of such a large resource provider, such as USA, led to the fact that the “glass” began to look as half full, and prices have gone down. Now the market is in the area of balance, it became clear that a surplus of oil on the market could not be assessed, and speculators were driving the prices up,” he said. According to experts, reducing factors to date, there is, therefore, in the medium term, oil may be at levels above $ 50 per barrel.
August 10, OPEC issued a forecast that in 2017 the global consumption of oil will break a new record and will be 95,41 million barrels per day.
In turn the President of OPEC, Minister of energy of Kuwait Mohammed bin Saleh al-Sada said that the second half of 2016, the demand for oil will grow.
