5:57 PM Crude oil prices rise with improved expectations about the supply of oil. | |
 Crude oil prices high during trading Tuesday amid improved expectations about the supply of crude oil in the market after the application of reductions in production levels by OPEC countries and non-producer members.
Trading crude oil futures currently us $52.96 a barrel level after scoring the highest at 53.19 dollars a barrel, while today's session was opened at $52.10 a barrel it was lowest at $52.10 a barrel.
Crude oil prices recovered during the day trades comes amid improved expectations about the future supply of crude on world markets after the Organization of petroleum exporting countries OPEC to cut crude output by 1.2 million barrels a day beginning in 2017.
In addition to this producer has begun informing their clients about start reducing production rates beginning January next, especially in light of the commitment of States members of the Organization to cut $600 thousand barrels a day, which helped crude oil prices in the market.
Trading volumes have declined in financial markets with the approach of the holiday season markets which may make markets due to varying influence and weakness is the reason behind the rise in crude oil prices during today's session.
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