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Oil prices rose on confidence in the increasing demand

Нефть подорожала на уверенности в увеличении спроса

The world prices for oil during the auctions on Thursday showing growth, since the slowing of production of “black gold” investors Express confidence in the imminent increase in demand for raw materials.

As at 07.25 GMT the cost of may futures for North sea petroleum mix of mark Brent has grown on 0,05% – to 36,95 USD per barrel. The price of April futures for WTI crude oil rose by 0.23% to 34,74 dollars per barrel, reports RIA “Novosti”.

According to traders, the market is an opinion that the fall in oil prices, which began in mid-2014, came to an end, and production is slowing down, while demand remains strong, writes Reuters.

Agency analyst Wang Tao believes that the price completed its multi-year downward trend this week, and that oil prices WTI will focus on growth above $ 40 per barrel in March.

Despite this, most analysts do not expect sharp price increase in the near future. They explain this by saying that production remains higher than demand and global stocks of raw materials can quickly fill up a hard sell fuel.

According to experts, all over the world daily 1-2 million barrels of oil over demand. They also believe that the idea of countries and non-OPEC to freeze oil production will not be able to curb the oversupply in the market.

On Wednesday, President Vladimir Putin announced that an agreement with Russian oil companies about the freezing in 2016 oil production at the January level in General achieved.

On Tuesday, the head of the energy Ministry of Russia Alexander Novak said that the decision to freeze the level of oil production joined the countries that produce 73% of oil in the world, this “critical mass”.

16 February in the Qatari capital Doha, Ministers of oil of Saudi Arabia, Qatar, Venezuela, included in OPEC and Russian energy Minister Alexander Novak held talks on improving the price situation on the oil market.

The parties expressed their willingness to save, on average, in 2016 oil production at the level of January of the current year, if other countries – oil producers will join this initiative.

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