Oil prices continue to recover at a moderate pace on Monday morning, investors estimate the growth rate of production in the US and the prospects for oil production in Libya, INTERFAX reports.
December futures on Brent on the London stock exchange ICE Futures to 8:16 GMT rose by $0.24 (0.3%) - to $80,02 per barrel. At the auction on Friday, their price increased by $0.49 (0.62%) and was at the close of $79.78 per barrel.
The price of WTI futures for November, which ends on Monday, at the electronic session on the New York commodity exchange (NYMEX) increased by this time by $0.28 (0.41%) - to $69.40 per barrel. At the end of the last session, their price rose by $0.47 (0.68%), finishing trading at $69.12 per barrel.
More actively traded December contract for WTI on Monday rises in price by $0.25 (0.36%) - to $69.53 per barrel.
As it became known on Friday from the report of the American oil service company Baker Hughes, the number of operating oil drilling rigs in the US last week increased by 4 units, to 873, which is a record value since 2015.
Since the beginning of the year, the number of drilling rigs in the United States has increased by more than 100, and production is above 10 million barrels per day since February.
Meanwhile, the head of the Libyan oil Corporation National Oil Corp. (NOC) Mustafa Sanalla noted that the Italian Eni SpA and the British BP Plc can resume drilling new wells on the border with Tunisia in the first quarter of 2019, which, according to him, can increase oil production in the country by "hundreds of thousands of barrels per day".
On Monday, the Minister of energy of Saudi Arabia Khalid al-falih said that his country will soon increase production to 11 million b / s and, if necessary, can increase it to 12 million b/day. The oil market is currently balanced, but if supplies fall by 3 million b/s, Saudi Arabia alone will not be able to compensate for such a drop, the Minister added.