Oil continues to rise in price

Oil continues to rise in price on 3 March, pending the outcome of a teleconference of Ministers of Finance G-7 and OPEC meetings+.

Нефть продолжает расти в цене

According to Investing.com the price of Brent crude oil at 8:30 in Kiev was $52,48 (+1,18%) per barrel. At yesterday’s auction the price is increased by $2.23 to a closing $51,9 per barrel, according to the League.

The price of oil WTI — $47,51 (+1,63%) per barrel. Previous auction ended at $51,90 and $46,75, respectively. At the end of the previous session, its share price soared at $1.99, finished the day at $46,75 per barrel. This was the highest daily increase since mid-September.

It is noted that 27 of the 29 experts and traders surveyed by Bloomberg expect the OPEC, which will meet this week, will decide on further production cuts. On average, they predict a further reduction in the production of 750 000 b/d.