Oil (current news)
Oil prices remain positive at the beginning of the European session. The expectation that OPEC and other non-cartel producers will extend the OPEC + pact until the end of 2018 is the main support for oil prices.
The US still acts as a counterweight to OPEC’s actions. According to Friday’s data from Baker Hughes, the number of drilling rigs in the United States grew by 1 unit and amounted to 737 units, which can be regarded as a signal of a possible increase in production in the USA.
- At the moment, WTI crude oil is trading at $ 54.01, adding about + 0.22% to the price.
- Brent crude oil is trading at around $ 60.40, adding about + 0.44% to the price.
Alexander Sivtsov