PT Equityworld - Crude oil prices rose slightly on the weekend early Saturday (18/02)

US crude oil futures price of West Texas Intermediate (WTI) closed up 4 cents or 0.8 percent at $ 53.40 per barrel.





Brent crude futures traded at $ 55.72 a barrel at 02:36 ET (1936 GMT), 7 cents above the last closing them.

US energy companies to add an oil refinery during the fifth straight week, Baker Hughes said, extending a recovery nine months as drillers take advantage of the price of crude oil which has been held largely in excess of $ 50 per barrel since OPEC agreed to cut supply by the end of November.

Organization of Petroleum Exporting Countries (OPEC) and other producers, including Russia, agreed to reduce production of nearly 1.8 million barrels per day (bpd) in the first half of 2017.

It is estimated that about 90 percent of OPEC compliance, and Reuters reported on Thursday that OPEC could extend the agreement or even implement more cuts from July when global crude inventories failed to get down to the target level.

read European Stock Markets Close Mixed After Rally On Price | PT Equityworld







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