Effects of Opec oil market value

Driven by the formalization of the agreement of the Organization of petroleum exporting countries (Opec), held on November 30, a barrel of Brent was 15% recovery and the WTI 14%.  Around 9:00 in the morning, the price of a barrel of Brent for February traded on International Futures Exchange (ICE), in London, scored high 1.29%, costing $55.16. While in New York, the valuation was 1.10%, leaving the $52.25.

According to the OPEC agreement, the exporting countries will have to reduce production by 1.2 mbd to a total of 3.2 mbd, so that it stimulates high prices for barrels. The Group had already approved in September called the Agreement of Algiers, which stipulated a cut in the production ceiling between 32,500,000 and 33 million barrels extracted per day (bpd).

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