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Investing.com – Oil prices rise on Tuesday as traders are interested in weekly data on US oil reserves and forecasts of the first decline in reserves in 10 weeks.
New York's rose 0.76% or 39 cents to $ 52.02 a barrel at 4:05 pm (CET).
The benchmark for oil prices outside the United States rose 0.76%, or 46 cents, to $ 61.02.
The American Petroleum Institute will publish its weekly for the week ending November 23 at 10:30 pm (CET), while it will be released Wednesday and all indicates a decline in oil reserves of about 600,000 barrels If this is confirmed it would be the first consecutive weekly decline in the country's oil reserves over the past 10 weeks.
Persistent concerns over continued increases in production levels also limited Tuesday's gains. Data from last week of
Energy Information Administration reported that oil production reached a record 11.7 million barrels a day. Saudi Arabia has also increased production to nearly 11.3 million barrels a day, according to a report from Industry Source at Reuters on Monday.
These record levels are taking place as OPEC prepares its meeting in Vienna on December 6 before statements that the deal would seek an agreement to cut production given the sharp drop in oil prices.
There had already been talk of a reduction of 1.4 million barrels a day before US President Donald Trump put pressure on his political ally, Saudi Arabia, the de facto leader of the country. OPEC.
According to a Bloomberg study released on Tuesday, estimates indicate that the volume of reduction announced by OPEC and its allies, Russia in the lead, will reach 1.1 million barrels a day.
It should be noted that the 36 analysts interviewed by the news agency, 12 out of 31 who were planning a reduction said that Moscow would not participate.
In contrast, they are down 0.02% to 1.4226 USD per gallon at 16:07 (CET), while the index is heading to 0.48% to 1.8962 USD per gallon.
They are down 3.26% to 4.159 dollars per million British thermal units.
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