Oil prices rose slightly on Wednesday


Moscow. December 23. Oil quotations grow in the course of trading Wednesday, the price of WTI exceeds American quotations North sea Brent for the first time in the last 4 years, reported Bloomberg.

February futures for Brent crude on London’s ICE Futures exchange to 15:01 Moscow time has risen in price by $0,51 (1,41%) – to $36,62 per barrel.

Futures prices for WTI crude oil for February in electronic trading on the new York Mercantile exchange (NYMEX) to a specified time rose to $0,50 (1,38%) – to $36,64 per barrel.

Previously, the Organization of countries-exporters of oil (OPEC) has predicted the growth of nominal price of oil to $80 per barrel by 2020, according to a review of the cartel. Prices 2014 the price of OPEC oil by 2020 will amount to $70,7 per barrel.

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.

In addition, on the eve of the American petroleum Institute (API) reported the decline of oil reserves in the U.S. last week by 3.6 million barrels. The organization collects information on reserves on a voluntary basis.

Official data of the Ministry of energy of the country will be published at 18:30 Moscow time on Wednesday. According to analysts surveyed by Bloomberg, they will indicate the growth of reserves in the U.S. by 1 million barrels.

“These APIs support the market, said managing Director of the consulting firm PetroMatrix Olivier Jacob. – Oil prices are at a very low level, the main indicators of the market extremely weak, and investors are trying to understand where you going quotes”.