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04.12.2013 16:40

Oil: an overview of the market situation

Prices for Brent crude declined moderately since the OPEC oil production quotas left unchanged, while the price of WTI crude oil rose , helped by a report on stocks in the United States . As it became known , the Ministers of the profile - Members of the countries - exporters of oil at today's meeting in Vienna agreed to maintain the current level of official limit oil cartel - 30 million barrels per day. Members of the meeting expressed satisfaction with current prices for crude oil, Brent Brent - above $ 112 which is considerably higher " minimum desired value " of $ 100 per barrel.

Total OPEC oil production quota is a formal reference , but the actual level of production cartel often does not coincide with the official . In November 2013. , According to industry experts, OPEC was producing slightly more than 30 million barrels per day.

As for stocks , the Department of Energy data on changes in stocks in the week November 25 - December 1 , showed :

- Oil reserves fell by 5.585 million barrels to 385.831 million barrels ;

- Gasoline inventories increased by 1,828 million barrels . to 212.432 million barrels . ;

- Distillate stocks increased by 2.649 million barrels . to 113.524 million barrels .

- Refining capacity utilization rate of 92.4 % against 89.4 % a week earlier .

We also recall that yesterday its reserves data provided the Institute of Oil API. They showed :

- Capacity utilization in the week 91.5% against 89.8 %

- Distillate stocks last week 0.540 million barrels

- Gasoline inventories last week -0.119 million barrels

- Oil reserves for the week 12.4 million barrels

Little support prices also provided employment report , which showed that private-sector employment increased by 215,000 jobs from October to November . According to the report , employment in producers increased by 40,000 jobs in November , compared to 29,000 in October.

Construction sector and manufacturing industry added 18,000 jobs each . Growth in the industry was the largest since 2012 .

The price of January futures on U.S. light crude oil WTI (Light Sweet Crude Oil) rose to $ 96.54 a barrel on the New York Mercantile Exchange.

January futures price for North Sea Brent crude oil mixture fell 24 cents to $ 112.64 a barrel on the London exchange ICE Futures Europe.

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