Oil prices move to active growth after OPEC statements

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Again oil prices are beginning to move to the active growth. The cost of a barrel is still on the level 77.7 per dollar, but a return to the values of the previous week will be held early next. Friday will be moderately positive, but attempts a more active offensive on the level of 78 78,5 will continue till the evening.
Such a scenario has become possible due to several reasons that affect the global supply and demand. The first is some dissatisfaction (not yet split) among OPEC members according to the agreements and the agreed position of the Saudis and Russia, who are willing to lower prices when the total increase and retention of markets. The other members of the cartel are such a large amount for sale and delivery, therefore high oil prices are a considerable help in the formation of the budget. Another reason is the setback in the US pressure on their opponents, i.e. Iran and North Korea.
European and Asian investors has calmed down considerably, but continue to invest under the General impression from the instability of Washington. Third – Italian demarche in debt relief and the demand for a waiver of sanctions against Russia leads to the debate in the EU and the overall tension in the markets. Finally, the scheduled maintenance at the refinery Rosneft led to transfer her abroad and some deficits in Russia.
All these factors influence on oil quotations on Friday, weaker than Wednesday and Thursday, but remain the source of changes in the market, therefore, further increase the cost of a barrel continues, even in the low interest of Russia and the Saudis in this pullback.
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Roman Blinov,
The head of the analytical Department of the company,
“International financial center”