MOSCOW, November 16 – RIA news. World oil prices are rising on Friday morning, given the expectations of a reduction in crude oil production in OPEC countries, and United States statistics, according to auction data, keeps growing.
From 7.57 Moscow time, the price of Brent North Brent crude oil futures rose 0.84 percent to $ 67.17 per barrel, while the price of December oil futures contracts for the WTI rose by 0.74 percent to $ 56.88 per barrel.
The suppliers are optimistic that OPEC will begin to reduce oil production due to signs of over-supply on the world market. The United Arab Emirates Energy Minister (UAE), Suhail Al-Mazrui, said this week that OPEC and its allies are ready to reduce or adjust the level of oil production, if necessary, to balance the market.
At the same time, analysts of the Morgan Stanley investment bank are not too optimistic about OPEC production. "Decreasing OPEC production is temporary by nature, because everything that an organization can do is transferring production from one period to another," experts say.
At the same time, oil price growth is constrained by weekly data from the US Department of Energy, according to which commercial oil stocks in the country for the week ending November 9 increased by 10.3 million barrels. At the same time, analysts expected growth of only 3.2 million barrels.