So has advanced the OPEC agreement to reduce global production.
3.jan.2017 | 21:00
oil prices saw increases beginning in 2017, reported yesterday the digital newspaper eleconomista.is.
Both the crude oil from West Texas Intermediate (WTI) and the Brent of London experienced the first significant rise after 18 months with the lowest prices.
The WTI rose $ 1.52, and the barrel rose to $ 55.24, while Brent climbed to a little over $ 1.33 and the barrel came to be worth $ 58.37, according to several international media.
The increases have taken place in the framework of the start of the reduction of the production of global oil, agreed to by the Organization of Petroleum Exporting Countries (OPEC) at the end of last November, and that would begin to be effective from the 1 of January of this new year.
Kuwait and Oman reduced the production at 175,000 barrels per day (bd): the first reduced by 130,000 barrels to stabilize at 2.75 million from bd, according to infobae.com the CEO of the state oil company of that country, Jamal Jaafer.
The second came down the production at 45,000 bd up to 1.01 million barrels per day, according to the director of Marketing of the Oil Ministry of Oman, Ali al Riyami.
In other words, according to the information of lavanguardia.com "the oil price benchmark for Europe, its price has risen more than 25% since the last November 30, the date of the agreement of the countries of the OPEC".
In total, the member countries of the Organization decided to reduce production at 1.8 million barrels per day, up to lower it to a maximum of 32.5 million.
And the agreement was joined by other countries that do not even belong to OPEC:
Saudi Arabia, for example, which is the largest oil producer in the world, has committed to reduce its production by half a million barrels a day.
Russia, for its part, has committed to reduce its production this year by 300,000 barrels a day.
After the agreement OPEC / Non-OPEC, the minister of Energy Russian explained that the trimming of the extractions will be gradual: in this way, in January the reduction will be 50,000 barrels per day; in march, 200, 000 barrels per day, and between April and may will reach 300,000 barrels per day.
Prices will continue to varying
The so-called "black gold" starred in a session is very volatile. Despite the rebound, the price of oil intermediate Texas (WTI) fell in the afternoon hours in a 2.6 % and closed at $ 52.33 per barrel, reaching its lowest level in the last two weeks.
While the Brent crude fell also considerably from their highs of a year and a half recorded at the beginning of the session.
In particular, the barrel Brent was a price to daily minimum of $ 55.37 usd, which represents a drop of 5% from $ 58.37 achieved during the first hours of trading.
prices will continue to change as the next few days, to measure progress of the agreement.
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