Oil prices rose at the end of this week



US oil companies have also reduced the number of active oil wells for the first time in three weeks.

Oil prices at the end of Thursday's trading (April 18) increased as they were downplayed by information about a decline in Saudi Arabia exports and a decline in oil wells and stocks in the United States.

Saudi Arabia oil exports, a key member of the Organization of Petroleum Exporting Countries (OPEC), dropped 277,000 barrels below 7 million barrels a day in February compared to the previous month (1 barrel = 159 liters).

Prices were also supported by the fact that, according to the US Department of Energy, the weekly oil reserves, as well as gasoline and petroleum spirits in the US, have decreased. In particular, oil stocks have experienced an unexpected decline.

In addition, US oil companies have also reduced the number of active oil wells for the first time in three weeks, signaling future mining developments. As reported by Baker Hughes, their number fell by eight in the week to April 18. Baker Hughes used to publish this data on Friday, but the report was published one day earlier for Easter. Most financial markets are closed on Friday for Easter.

In response to this information, the price of North Sea oil blend Brent increased by 35 cents at the end of Thursday's trading in June and closed at $ 71.97 per barrel.

It approached the 5-month high, which was on Wednesday at 72.27 USD / barrel. For the whole week, it grew at 0.6%, the fourth week in a row.

The US light oil price of WTI, with delivery in May, closed Thursday's trading at $ 64 a barrel. Compared to the previous deadline, this means growth of 24 cents. It has also seen growth for the whole week, the seventh consecutive week. However, it was only moderate, at less than 0.2%.


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