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Supply in the USA Closed WTI Decreasing Strengthened In US $ Per barrel 50.44

Jakarta (Benchmark News) – Crude oil prices rose following the decline in U.S. supplies of crude oil on the oil storage Center offset rising oil reserves first since August West Texas Intermediate oil for November delivery rose 26 cents to US $ 50,44 per barrel on the New York Mercantile Exchange.

Meanwhile, Brent oil for delivery in December rose 22 cents to US $ 52,03 a barrel on the ICE Futures Europe exchange, based in London. U.s. energy Administration Data showed crude oil stockpiles increased 4.85 million barrels last week , where most of the increase occurred on the East Coast. As for the oil supplies in Cushing, Oklahoma, the delivery point for U.S. oil futures, down 1.32 million barrels to the lowest level this year.

“The preparation of the today show big increases on the East Coast, it is stable and will likely fall,” said Kurt Billick, founder and Chief Investment Bocage Capital LLC, Bloomberg was quoted as saying. ” The main storage Center showed a decrease in the supply of products and supplies are relatively constructive, “he said. Earlier, oil had traded approaching US $ 50 per barrel because investors doubt whether the Organization of petroleum exporting countries (OPEC) will carry out plans to curb output.

Russia said it was ready to participate in a meeting later this month in Vienna to set a road map for the production, while the OPEC Committee will try to resolve differences over their respective production quotas of members. On the other hand, U.S. crude oil imports rose 2% to 7.86 million barrels per day last week, while production decreased to 8.45 million barrels per day…(Red)

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