Brent has exceeded $37 per barrel on a drop in U.S. inventories


Moscow. December 23. Oil prices rise on Wednesday on data on falling U.S. inventories and the favorable forecast of OPEC, told Bloomberg.

February futures for Brent crude on London’s ICE Futures exchange to 18:30 Moscow time has risen in price for $$1,07 (2,96%) to $37,18 per barrel.

Quotes of WTI oil futures for February in trading on the new York Mercantile exchange (NYMEX) to a specified time rose to $1.24 (3,43%) – to $37,38 per barrel.

The price of American WTI exceeds quotations of North sea Brent for the first time in the last 4 years.

According to the U.S. Department of energy, commercial oil reserves in the country last week fell by 5.88 million barrels. The experts surveyed by Bloomberg had expected growth of 1 million barrels.

In addition, distillate inventories last week decreased by 661 thousand barrels, while gasoline inventories rose 1.11 million barrels.

Previously the Organization of countries-exporters of oil (OPEC) gave a forecast that the nominal price of oil produced by the cartel, will increase to $80 per barrel by 2020 (about $70 for the course of 2014). This scenario is based on expectations that increased demand and lower growth in production outside OPEC will allow to mitigate the existing imbalance market.

By 2030, the nominal price of “oil basket” OPEC is expected to rise to $123 per barrel by 2040 – up to $160 per barrel.