Oil prices rising ahead
of the OPEC meeting on Thursday, which is expected to result in an extension of
lowering production after 2017 for at least nine months after six months in the
first half of this year.
crude were $ 54.41 a barrel, or 45 cents, up to 0.8 percent from the previous
crude futures rose 40 cents, or 0.8 percent, to 51.76 dollars.
crude are up more than 16 percent since May.
rising by consensus that the Organization of the Petroleum Exporting Countries
(OPEC) and other producers, including Russia, will hold the supply by 1.8
million barrel per day to be extended beyond 2017 instead of covering only the
first half of the year.
Halley, an analyst at Singapore brokerage of Oanda, said there was speculation
that it could increase to nine months and maybe 12 months.