The global oil markets are continuing its stable atmosphere with following over 50 USD. The global oil prices traded at close to 50 USD level, with investors focusing on whether OPEC could persuade to meet its commitment to the planned production shortfall of its non-group members. According to sources close to the subject, OPEC would be willing to limitations to producers outside the group, rather than insist on actively cutting oil production. Crude oil fell on Wednesday after the US stocks showed the strongest increase since 2009. Oil has been trading above the 51 USD for a barrel since the first week of eight years since OPEC members decided to reduce oil supplies and support prices. Russia, which is not a member of the OPEC, has reached a cut back of 300 thousands barrels per day in oil production.
- Date: 08 December 2016 Thu 12:09
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