The price for oil has reached new absolute record
As it has become known, on results of the tenders on September, 12th, 2007, at the New York Mercantile Exchange the price of oil future Light Sweet has made 79,91 doll./barr., that is a new historical maximum. Light Sweet has added in the price on 1,68 dollars in comparison with the price of 78,23 doll./barr., fixed on September, 11th, 2007.
Besides at London InterContinental Exchange Futures quotations of future Brent have considerably raised, having made 77,68 (+1,30) doll./barr. New changes in the prices have occurred after the American Ministry of power has disclosed information about the decrease in US oil stocks.
Last week commercial oil stocks in the country were reduced at once to 7,1 million barrels, and gasoline stocks have decreased on 700 thousand barrels. Experts predicted reduction of hydrocarbon raw material stocks in the USA, however, they did not assume, that it will be so significant.
In this connection fears, that increase of extraction of the OPEC-countries on 500 thousand barr./day, about which the cartel has declared on September, 11th, 2007, have amplified, will be insufficient for maintenance of demand from the oil refining enterprises.
The new record of oil extracting will start to operate since November, 1st, 2007: the volume of raw material will make 27,2 million barr./day. Earlier the coordinated volume of extraction made 25,8 million barr./day, however, the majority of the countries did not observe it, and manufacture of raw material reached 26,7 million barr./day.
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