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Oil rises after the IEA sharply down expectations for investments

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Rocky


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Oil rises after the IEA sharply down expectations for investments




11.11.2015

Crude oil prices rose after the International Energy Agency pointed to an unprecedented decline in investment but the overall picture of the market bloated about supply limited the gains as traders focused on stocks issued statements on Tuesday.
US crude rose 34 cents to settle at US $ 44.21 a barrel. London Brent crude rose 25 cents to settle at US $ 47.44 a barrel after hostel for four consecutive sessions.
The International Energy Agency said that "unlikely that the price of oil back to $ 80 a barrel before the end of the decade despite a decline in investments with difficulty that the annual demand growth of more than one million barrels a day."
The agency estimated that the "oil investments fall more than 20 percent this year and that this trend will continue in the next year."
It is due to "the American Petroleum Institute issued statements on raw stock at a later date and any increase in inventories will push prices down."
It is expected that US crude inventories increase for the seventh consecutive week.
It will be issued US Energy Information Administration official statements for stocks on Alkhamis.anthy 29 quarters e

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