Oil price sprint up

Oil price sprint up

World July 25, 2017 13:54

- Amsterdam The price of oil rises by 2% on Tuesday afternoon. The market is responding to figures that OPEC's oil cartel less marketed.

About half past three burned Brent oil was $ 49.50 per barrel of 150 liters.

Does OPEC make its promise of less production true? After Monday's response to Saudi Arabia, there were also lower production figures from Russia on Tuesday. In the event of less supply, that pressure upwards for the price ultimately puts the pump for consumers and businesses.

In the event of less supply, that pressure will ultimately raise the price for the price

Hedge funds are still counting on a decline, gambling against OPEC. Retailers like Vitol, the largest retailer in the world, on the other hand, according to Bloomberg press office, have become much more 'bullish', counting on price increases.

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