- Bonuses and Promotions
In the weekly section, the rising cost of black gold has broken records since 2016
Oil prices of reference brands are moderately reduced during Asian trading after rising at the end of last week. Investors estimate data on the increase in the number of existing drilling rigs in the United States. At the end of last week, Brent rose in price by 1.7%, WTI - by 1.3%. Both brands finished in the positive for the sixth week in a row, which has not been observed since 2016.
So, the June futures for Brent on the London Stock Exchange ICE Futures on April 15 fell to 71.41 dollars per barrel. At the auction on Friday, their price was at the close of 71.55 dollars per barrel.
The cost of WTI futures for May at the electronic session on the New York Mercantile Exchange (NYMEX) decreased by this time to 63.61 dollars per barrel. At the previous auction, WTI rose to 63.89 dollars per barrel.
The main driver of growth in the oil market was OPEC compliance with agreements to reduce production amid falling production in Libya and Venezuela. As it became known last week from the report of the International Energy Agency (IEA), OPEC countries reduced production in March by 550 thousand b / d - to 30.1 million b / s.
At the same time, the oil service company Baker Hughes reported that the number of operating drilling rigs in the United States increased to 833 last week, up to 833. This could be a signal for growth in US production amid rising oil prices in recent weeks.