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Oil is trading higher
This morning, the New York futures for Brent increased by 1.35% to $ 54.65 and WTI rose by + 1.19% to $ 51.69. Thus, the black gold traded in positive territory after the release of data from the American Petroleum Institute. The volume of oil reserves in the United States declined slightly more than 5 million barrels for the week to 479,225 mln. Earlier, OPEC agreed to reduce output by 1.2 million barrels per day to 32.5 million barrels per day in order to restore balance in the global market and maintain prices.
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