Oil reaches highest price since mid-2015 after agreement of the producers – Globo.com

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12/12/2016 20h12

oil rose to a maximum of 18 months on Monday after the Organization of the Petroleum Exporting Countries (Opec) and some of his rivals have closed its first agreement since 2001 to reduce the production of oil in order to combat a surplus of the product.

On Saturday, producers outside Opec, led by Russia, agreed to reduce his production by 558 thousand barrels per day (bpd), below the target of 600 thousand bpd, but still the largest contribution from producers outside the group ever recorded.

The oil futures rebounded sharply, with the oil of the United States gaining 23% since the middle of November by growing optimism that an agreement would be closed.

There is some concern among analysts that the great cutting is not sustainable and that the market may have risen too, due to the expectation that many producers would not cooperate with the cuts that have been decided.

“The market could push other US$ 1 or US$ 2 to US$ 55 and Brent can get up to$ 60, but at this point there are some concerns which will limit the rally,” said Gene McGillian, manager of market research Tradition Energy.

The oil of the USA ended on a high of US$ 1.33, or 2.6 percent, to$ 52,83, although it has been well below the highs of the day.

The Brent oil closed at a high of 2.5%, to$ 55,69 per barrel, after touching$ 57,89$ , the maximum since July of 2015.