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Oil prices extend gains and Brent crude rises to highest level in 3 weeks
World oil prices, the European market rose on Friday, extending gains for the third straight day, scoring Brent highest level in a week, and prices tend to register weekly gains amid hopes that the resulting oil producers meeting in mid-March next year to support the stability of oil markets.
By 12:00 GMT, US crude rose to the level of 33.40 dollars a barrel from the opening level of $ 33.01 and recorded the highest level of $ 33.88 and the lowest level of $ 32.75.
Brent rose to $ 35.75 a barrel from the opening level of $ 35.06 and the highest 36.15 Top level since the first of February dollars and the lowest level of $ 34.71.
US crude oil, "delivered in April" trading yesterday, up by 2.6 percent, the second daily gain in a row, and stepped Brent "April decades" by 2 percent, with renewed hopes to stabilize soon in the oil markets after Venezuela's announcement of a meeting of top producers next March.
Oil prices posted a rise of more than 5 percent over the trading this week on the way to achieving weekly gain, despite record-high oil inventories in the United States the largest oil consumer in the world.
Confirmed yesterday the State of Venezuela, "a member of OPEC," that a meeting will be held in mid-March next berths will also include Russia, Saudi Arabia and Qatar in the framework of activating the Doha agreement to freeze production at the Jan. levels seek to.
Russian Energy Minister Alexander Novak said yesterday Thursday that the agreed maximum with Saudi Arabia for the decision to freeze production should continue for at least 12 months in order to support prices, he confirmed Novak to hold a meeting with the Iranian oil minister next month to persuade Tehran to the need to join the agreement production freeze.
On the other hand, all eyes to China to follow up on what will result in the Group of Twenty meeting that began today in Beijing for two days to discuss the global financial and economic developments, and is expected to result in meeting new measures to support the recovery of the global economy and stop the bleeding equity and commodity markets losses.
And waits for dealers and drilling in the United States platforms and issued by the company, "Baker Hughes" oil services, amid expectations of continued low platforms to its lowest level since December, 2009, due to cheap oil prices and the direction of major companies to cut costs in light of the high cost of extracting shale oil data.
