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- Oil is trading moderately higher
Oil is trading moderately higher
This morning, the New York futures for Brent rose by 0.18% to $ 44.74 and WTI rose by 0.22% to $ 46.45 per barrel. Thus, the black gold is trading in the green zone after Baker Hughes reported that the number of drilling rigs in the US decreased by 2 to 441 last week.
The US presidential candidates Hillary Clinton and D.Tramp have radically different views on energy policy, including the search for oil on federal territory and diplomatic relations with major oil producers.
Also, experts are skeptical about the implementation of OPEC's plans to limit the volume of oil production.
During the negotiations in Algeria, producers from 14 countries agreed to cut production to 32,5-33,0 million barrels/day, but OPEC said it would not make a final decision about this before the official summit in Vienna on November 30th.
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