Oil prices rose later this week



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US oil companies also reduced the number of active oil wells for the first time in three weeks.

Oil prices at the end of Thursday's trading session (April 18) increased as they were downplayed by information on a decline in Saudi Arabia's exports and a decline in oil wells and stocks in the United States.

Saudi Arabia's oil exports, a key member of the Organization of Petroleum Exporting Countries (OPEC), fell 277,000 barrels below 7 million barrels per day compared to the previous month (1 barrel = 159 liters).

Prices were also backed by the fact that, according to the US Department of Energy, weekly reserves of oil, as well as gasoline and US oil distillates, have declined. In particular, oil stocks fell unexpectedly.

In addition, US oil companies also reduced the number of active oil wells for the first time in three weeks, signaling future mining developments. As reported by Baker Hughes, his number dropped eight in the week to April 18. Baker Hughes used to publish these data on Friday, but the report was published the day before for Easter. Most financial markets are closed on Friday for Easter.

In response to this information, the North Sea Brent crude oil price increased 35 cents at the end of Thursday's trading session in June and closed at $ 71.97 per barrel.

It reached the 5-month high, which was at $ 72.27 / barrel on Wednesday. Throughout the week, it grew 0.6%, the fourth consecutive week.

The US light oil price of the WTI, with delivery in May, closed Thursday's trading at $ 64 a barrel. Compared with the previous term, this means growth of 24 cents. We also saw growth for the entire week, the seventh consecutive week. However, it was only moderate, with less than 0.2%.

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