Oil prices are rising reference marks in the course of trading

Oil prices are rising reference marks in the course of trading

Oil prices are rising reference marks in the course of trading on Thursday due to the strengthening of expectations that the upcoming meeting of the OPEC member countries and other major producing countries, production is reached on the limitation of the agreement.

Beneficial effect on the mood of market participants also had an unexpected drop in US oil inventories, which pushed up quotes after three consecutive sessions of decline.

Quotes of the December futures for Brent crude on London's ICE Futures exchange to 18:03 quarter rose to $ 0.7 (1.4%) - up to $ 50.68 per barrel. Futures price for WTI crude oil for December on the New York Mercantile Exchange (the NYMEX) rose by $ 0.66 (1.34%) - up to $ 49.84 per barrel.

"In spite of the skepticism about the deal, it seems that they (OPEC and other oil-producing countries - ANI approx.) Are close to announcing a 4% decline in production", - said a senior market analyst at Price Futures Group Phil Flynn.

Macquarie Capital analyst Vikas Dwivedi believes that the probability of the conclusion is in the region of 60% of the agreement on the basis of the November meeting. He recommends buying oil when prices fall, especially if the WTI quotes fall below $ 50 per barrel.

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