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month highs
Oil prices hit 18 month highs on Tuesday, the first trading day of 2017, buoyed by hopes that a deal between OPEC and non OPEC members to cut production, which kicked in on Sunday, will drain a global supply glut.
Benchmark Brent crude jumped more than two per cent to a high of $US58.37 ($A80.98), up $US1.55 a barrel and its highest since July 2015. By 1940 AEDT, Brent eased slightly to trade at $US58.22, up $US1.40.
January 1 marked the official start of a deal agreed by the van cleef sweet alhambra necklace fake Organisation of the Petroleum Exporting Countries and other exporters such as Russia to reduce output by almost 1.8 million barrels per day (bpd). in Amsterdam.
Ric Spooner, chief market analyst at CMC Markets, agreed.
"Markets will be looking for anecdotal evidence for production cuts," he said. "The most mini van cleef necklace fake likely scenario is OPEC and non OPEC member countries will be committed to the deal, especially in early stages."
Libya, one of two OPEC van cleef pink necklace fake countries exempt from the output cuts, has increased its production to 685,000 bpd, from around 600,000 van cleef four leaf clover necklace fake bpd in December, an official at the National Oil Corporation said on Sunday.
Elsewhere, non OPEC Middle Eastern oil producer Oman told customers last week that it would cut its crude oil term allocation volumes by five per cent in March.
Oil prices hit 18 month highs on Tuesday, the first trading day of 2017, buoyed by hopes that a deal between OPEC and non OPEC members to cut production, which kicked in on Sunday, will drain a global supply glut.
Benchmark Brent crude jumped more than two per cent to a high of $US58.37 ($A80.98), up $US1.55 a barrel and its highest since July 2015. By 1940 AEDT, Brent eased slightly to trade at $US58.22, up $US1.40.
January 1 marked the official start of a deal agreed by the van cleef sweet alhambra necklace fake Organisation of the Petroleum Exporting Countries and other exporters such as Russia to reduce output by almost 1.8 million barrels per day (bpd). in Amsterdam.
Ric Spooner, chief market analyst at CMC Markets, agreed.
"Markets will be looking for anecdotal evidence for production cuts," he said. "The most mini van cleef necklace fake likely scenario is OPEC and non OPEC member countries will be committed to the deal, especially in early stages."
Libya, one of two OPEC van cleef pink necklace fake countries exempt from the output cuts, has increased its production to 685,000 bpd, from around 600,000 van cleef four leaf clover necklace fake bpd in December, an official at the National Oil Corporation said on Sunday.
Elsewhere, non OPEC Middle Eastern oil producer Oman told customers last week that it would cut its crude oil term allocation volumes by five per cent in March.
The Wall