Oil has risen 5% on the background of the agreements reached in the G20

2018-12-03 12:35:34
Machine translation
Oil has risen 5% on the background of the agreements reached in the G20

After falling to a 10-year low last month, on Monday oil futures in new York and London rose by 5% after held at the meeting G20 successful negotiations between key countries.

 

Russia and Saudi Arabia had extended the provisions of the agreement on joint management of the market in order to conclude a new agreement at the OPEC meeting this week in Vienna.

 

the Largest canadian province of Alberta decided to cut daily oil production by 325 thousand barrels.

 

the U.S. and China announced a truce in a trade war and agreed not to introduce from 1 January additional fees.

 

In USD futures on WTI increased by 5.4% to 53.7 $/barrel, while Brent crude rose by 55 to 62,48 dollars/barrel.

 

Monday trading on the Chinese stock exchanges began with the growth of the major indexes. The Shanghai stock exchange index Shanghai Composite rose 2.28% to 2647,13 p., Seljanska the Shenzhen Composite 2, 9% to 1378,18 p., Hong Kong's Hang Seng Index by 2.51% to 27173,35 p.

 

U.S. President J. trump has agreed not to increase from January 1, duty from 10% to 25% on Chinese goods worth 200 billion $ subject to the adoption by China of a number of additional agreements.

 

In September, the U.S. imposed a 10% tariff on Chinese goods for a total amount of 200 billion $, in response to that China has imposed duties on American goods worth 60 billion $.

 

But on the opening of the first China international import EXPO in Shanghai on 4 November, the head of China, XI Jinping stated that no temporary difficulties can not break the powerful Chinese economy.

 

the Increase in oil prices will support the markets of vegetable oils and energy crops.

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