Oil Prices Rise On OPEC Deal Expectations

Oil prices found support as Venezuelan President Nicolas Maduro said Sunday that OPEC and non-OPEC countries were close to an agreement to stabilize the oil market.Venezuelan Oil Minister Eulogio Del Pino said Monday that global oil supply needed to be reduced by one million barrels per day to match consumption.OPEC members and Russia are scheduled to meet on the sidelines of the International Energy Forum in Algeria from September 26 to 28.Oil prices were also supported as a weaker U.S. dollar boosted investor sentiment, making the dollar-priced commodity more attractive to holders of other currencies.The dollar index, which measures the greenback against six major currencies, fell 0.26 percent to 95.859 in late trading Monday.U.S. benchmark West Texas Intermediate (WTI) crude for October delivery added 0.27 U.S. dollar to settle at 43.30 U.S. dollars a barrel on the New York Mercantile Exchange.Meanwhile, Brent crude for November delivery increased 0.22 U.S. dollar to close at 45.95 U.S. dollars a barrel on the London ICE Futures Exchange.
Editor: Ade Marboen
http://www.antaranews.com/berita/585303/harga-minyak-naik-didorong-ekspektasi-kesepakatan-opec