The price of a barrel of Brent reached yesterday its highest level in a year after the statements of the Russian president, Vladimir Putin, in Istanbul, who was in favour of the agreement of the Organization of Petroleum Exporting Countries (OPEC) on the limitation of the production of crude oil.
The barrel of Brent of the North sea was sold to 53,50 dollars, its highest level since October of 2015. While, the barrel of "light sweet crude" (WTI), a reference in the united States, she went up to 51,46 dollars, its highest quote since June.
"In the current situation, we believe that freeze or reduce oil production is the only way to preserve the stability of the energy sector and accelerate the rebalancing of the market," said Putin in the framework of the World Energy Congress, which takes place in Istanbul. "Russia is ready to join the joint measures to limit the production", he added.
however, the minister of Energy of Saudi Arabia, Khaled al Faleh, warned that OPEC "has to act in a manner that is not reduced too much (the production) so as not to cause a shock in the market. We do not want to create a shock and unleash a process that can be harmful", said the heavyweight in OPEC, who estimated as viable a barrel to $ 60 by year-end.
In the meantime, in his speech during the Congress, the venezuelan president, Nicolás Maduro, called for the establishment of a "new mechanism" for prices to increase.
Estimated that the informal meeting tomorrow between producing members and non-members of OPEC could be the first step to creating "a new alliance of petroleum producers". (I)
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