HIGH OIL PRICES

Oil rose on Thursday, but record highs for stocks of fuel and crude oil in the United States curbed price while supplies helped reduce applied by OPEC to support the market.By 10:20 GMT Algeria, it has been trading futures for Brent for $ 55.90 a barrel, up 15 cents from the previous settlement.US light crude futures rose ten cents to $ 53.21 a barrel.OPEC agreed and independent producers to cut production about 1.8 million barrels per day during the first half of 2017 show the majority of sector data producers commitment to the agreement.But still a huge inventory and supply is high, particularly in the United States.Analysts say the market is caught between two conflicting factors OPEC cut production and increase US inventories and production.

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elkhabar