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Cost of oil futures rose moderately today received support from positive U.S. data and China . Note that two separate survey of purchasing managers , which were presented yesterday and today showed that manufacturing activity in China maintained a relatively stable rate of growth in November. The final results of research from Markit Economics and HSBC showed that the purchasing managers' index for the manufacturing sector fell slightly last month - to the level of 50.8 points, compared with 50.9 in October. Nevertheless , this indicator was above the provisional assessment - at the level of 50.4 points , which was associated with a more rapid increase in new orders . Meanwhile, adding that the official survey , released China Federation of Logistics and Purchasing and the National Bureau of Statistics showed on Sunday that in the last month active in the manufacturing sector continued to grow at a steady pace , helped by increased production. Note that the official purchasing managers index was 51.4 points in November , unchanged compared with October , and remained at 18- month high. Production and export orders grew at a faster pace , and new orders growth slowed slightly .
With regard to the report by the United States, he showed that in November the activity in the U.S. manufacturing sector has grown , despite the expectations of economists decline. PMI index for the U.S. manufacturing rose this month to 57.3 vs. 56.4 in October. A reading above 50 indicates expansion of industrial activity. Note that the latter growth was a surprise to economists , as they forecast a decline to 55.2 . Index increase was primarily due to robust growth components production, new orders and employment. At the same time , a decline compared with the previous month , it was noted by the component stocks and prices .
Add that many market participants expect the meeting of the Organization of Petroleum Exporting Countries , which is scheduled for December 4. Experts predict that at this meeting will be confirmed that the total oil production of 30 million barrels per day .
The price of January futures on U.S. light crude oil WTI (Light Sweet Crude Oil) rose to $ 93.35 a barrel on the New York Mercantile Exchange.
January futures price for North Sea Brent crude oil mixture rose 79 to $ 110.92 a barrel on the London exchange ICE Futures Europe.
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