Oil prices rises up again

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World oil prices extended solid gains in the previous session in response to a report that a major investment to cut oil production, Friday rose.

The United States has added 75 cents to $ 51.96 a barrel, compared to close to the benchmark West Texas Intermediate (WTI) Thursday’s for March delivery.

April Brent crude oil was $ 60.30 per barrel jumped $ 1.02 in afternoon trading in London – the first time this year above $ 60.

Crude oil futures rallied by reports of falling investment in the oil sector for about $ 2.50 on Thursday.

Daniel center, investment analyst at Phillip gift Singapore, said boundary to the dealer’s medium-term impact of these cuts.

“We will continue to see little change in the medium term trading confined to the main” center told AFP.

“The important thing is crude oil production to the production level is not enough to stop for now, it is difficult to see a reversal of low oil prices,” he said.

“The price is again ready for the market they seem to be just waiting for a sign to be traced to produce significant savings.”

US stocks up to 80 years from the time this report was worse Wednesday, concerns about the global oversupply showing crude oil reserves.

Oil prices were just under pressure during the month plunged 60% to $ 40 a barrel in June between the end of the month.

The number of rigs fell and Total and Royal Dutch Shell, etc. However, cleaning the oil companies, some investment, they recovered somewhat in recent weeks. (AFP)

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