Oil prices rise 53% this year

Oil prices rise 53% this year
# 30 December 2016 08:09 (UTC +04:00)

At London’s Intercontinental Exchange (ICE), the price of Brent crude increased $0.26 to $57.11.

 

For the last time, the Brent crude could exceed $ 57 on December 12.

 

The U.S. Department of Energy stated yesterday that the commercial oil reserves increased 614,000 barrels. This is the lowest growth since January 2016. So, this factor led to increase of the oil price.

 

Experts of Bloomberg agency forecast that the reserves will fall 1.5 million barrels.

 

Of course, the main factors causing oil price rise are output cut deal between OPEC and non-OPEC counties.

 

By the way, WTI crude oil rose 46%, Brent crude – 53% throughout a year.  

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