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Oil prices rose slightly today, which is mainly due to technical factors. But despite the recovery, Brent crude oil continues to trade near four-year low.
Experts point out that the fundamental factors of weaker growth in the global economy, falling demand and excessive growth stocks remain the same. Oil prices close to the oversold technical indicators that reflect. Meanwhile, hourly charts indicate the likelihood of further correction before the weekend. However, the correction may be small, since oil prices are influenced by the stock markets of the USA, which are now falling.
Little impact on the bidding had presented today OPEC monthly report. It repeated the view expressed earlier by some members of the cartel view that global oil demand will increase with the onset of winter. Meanwhile, we add that OPEC has maintained its forecast for global oil demand this year at 91.19 million barrels per day. In comparison with 2013 year, the demand has increased by 1.05 million b / d. Forecast for 2015 maintained at 92.38 million b / d. OPEC expects to meet demand in 2014, her average will need to produce 29.5 million b / d in 2015 - 29.2 million b / d. Demand for oil produced outside of OPEC, is expected to reach 55.91 million b / d (an increase of 1.68 million b / d compared to the previous year). Recall Organization discuss quota for oil is 30 million barrels per day, at a meeting on November 27 and show no signs that its members are willing to work together to support the global market.
Pressure on prices has had a statement of IMF managing director Christine Lagarde that the eurozone faces a high probability of a new recession. Previously, the world's leading investors Mark Mobius and Jim Rogers noted that in the current situation to predict the price of oil there is no way. According to them, as the oil may fall to $ 60 a barrel, and again exceed the mark of $ 100.
The cost of the November futures for the American light crude oil WTI (Light Sweet Crude Oil) rose to $ 84.92 a barrel on the New York Mercantile Exchange (NYMEX).
November futures price for North Sea Brent crude oil mixture rose $ 0.23 to $ 89.34 a barrel on the London exchange ICE Futures Europe.
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