Economy 07-11-2017

​OPEC basket exceeds $ 61 for the first time in two years

The price of the basket of reference of the Organization of Petroleum Exporting Countries (OPEC) was quoted at 61.05 dollars per barrel on Monday, which represents an increase of 1.9 dollars compared to the 59.15 dollars registered On Friday, the group's secretariat informed on its web portal.

The last time OPEC oil was quoted above $ 61 per barrel was on June 12, 2015, when it marked $ 61.17.

Meanwhile, the barrel of Brent oil for delivery in December opened on Tuesday in the futures market in London at 64 dollars; 26 cents less than the previous day's price; while the West Texas Intermediate (WTI), of reference in the United States, fell 6 cents and opened the day at 57.31 dollars.

Several countries give their support to OPEC

Analysts attribute the rise in prices to a fall in the production of unconventional oil (fracking) and the expectations that exist to extend the agreement of cut between OPEC and 11 external producers, which sets a reduction close to 1.8 million of daily barrels (MBD).

Already the oil giants Russia and Saudi Arabia expressed their support for a possible extension beyond 2018, when the agreement expires.


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