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TOKYO / LONDON .- Oil futures increased profits Tuesday due to supply deficits, after a strike sparked by hundreds of workers in Norway has brought down a country's oilfield and after data that has shown that Libyan production has been reduced by more than half in recent months.
Venezuela 's production collapsed due to lack of investment and Iran' s exports were affected by US sanctions. OPEC has little capacity to bridge the gap as oil demand accelerates.
At 8:45 am local time in Mexico, Bren's future t were up 1.7 percent, to $ 79.42 a barrel, a session peak. On Monday, the benchmark gained 1.24% on the Intercontinental Petroleum Exchange (ICE).
The future of West Texas Intermediate (WTI), gained 0.77% to US $ 74.4. On Tuesday, hundreds of workers on offshore oil and gas platforms in Norway went on strike after rejecting a wage adjustment agreement, which led to the closure of an oil field. operated by Shell.
In Libya, production fell to 527,000 barrels per day (bpd), after peaking at 1.28 million barrels in February, the chief of the national oil company, the National Oil Corporation, reported on Monday (19659006). ]. interruptions in other oil-producing regions amid tensions in the Middle East.
The United States insists on zeroing Iranian oil exports in November, the world's fifth largest oil producer, a move that would force other big producers like Saudi Arabia to pump more.
Arabia, a member of the Organization of Petroleum Exporting Countries (OPEC) and its allies, including Russia, decided last month to increase production to curb rising prices and compensate production losses in countries such as Libya and Venezuela. .
The market is increasingly concerned that if the Saudis compensate for Iran's losses, it will deplete the world's unused capacity and make the markets more vulnerable to further or unexpected decline in production.
In Canada, the closure of a Syncrude oil sands facility, with a capacity of 360,000 barrels per day, reduced flows to Cushing in Oklahoma, the point delivery of oil futures in the United States and where inventories reached a minimum of three and a half years last week.
With Reuters and Notimex information.
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