The price of oil continues to rise

Two of the world’s largest råoljeproducenter indicates that they want to extend the production cap in the next year.

Yesterday’s price increase was the longest in terms of percent of over a month. The movement during the night was moderate.

Russia and Saudi arabia’s gambit

”The comments from saudi Arabia and Russia pushing up the prices but I am skeptical that the oil will land on a new level. Producers in the united states is expected to increase the supply and it will continue to dampen prices,” said Hong Sung Ki, a råvaruanalytiker at Samsung Futures to Bloomberg News.

In the morning, will the statistics on u.s. oil inventories. According to Bloomberg News survey vänas they have dropped by 2.75 million barrels to 519,8 million barrels.

Source: Business World

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