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Reuters
President Donald Trump
Oil prices rose on Tuesday, while there were expectations that Saudi Arabia and other OPEC members will stand by the reduction of their oil prices. production, despite renewed pressure from US President Donald Trump on the organization.
The US benchmark, Brent, rose 24 cents to 65 dollars a barrel at 11:39 GMT, while the US WTI benchmark rose seven cents to 55.54 dollars a barrel.
This came after the sharp drop in crude prices on Monday, with Brent losing 3.5% after US President Donald Trump asked OPEC to reduce its efforts to revive the oil market. Trump said the prices were "too high".
US crude stocks are holding back the recovery, and weekly reports are expected to rise by 3.6 million barrels last week, Reuters reported.
Oil prices have risen 20% since the beginning of the year, when OPEC and other Russian producers began to reduce their production to absorb excess supply.
Olivier Jacob, oil analyst at Petromatrix, said that Saudi Arabia and the rest of OPEC would likely be cautious about reducing their supplies after rising production in the second half of the year. last year before the US sanctions on Iran, In prices.
Source: Reuters
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