Oil prices are rising amid indicators over the almost decrease in US production

Oil prices have risen from the lowest closing level in four years, amid indications of the possibility of production from the United States in the coming months. Brent raised by 3.2% to settle at $ 62.15 a barrel, and West Texas Middle Rao rose 3.4% to settle at $ 59 a barrel, after falling by more than 9% over the past six sessions. The company “Diamondback Energy”, the largest independent product in the Bramean Basin, has reduced its expectations for annual production and said it expects a decline in the production of US shale oil in the coming months. Low US crude production will contribute to the relief of the global surplus expected this year, at a time when the “OPEC+” coalition returns to the market faster than expected. ‘Diamondback’ expects a decrease in the number of wild oil -digging machines in the US industry by the end of this term by about 10%. The CEO of the company, Travis remains, wrote that the US production is reaching a turning point. ” An official US review to reduce production in the meantime, the United States this year reduced its forecast for local oil production in a report prepared before announcing the “OPEC+” decision last weekend, which is an indication of the continued decline in US production expectations. Oil prices saw a sharp decline this year, with the increasing supplies of “OPEC+”, and the commercial war waged by US President Donald Trump, which negatively affected the expectations of demand. The “OPEC+” countries agreed during the weekend an extra increase in supplies from June, with Saudi Arabia for the possibility of approving additional increases if the members who exceeded the agreed shares did not commit the required discount. Trump is open to lowering the fees for China in a related context, Trump expressed his willingness to reduce customs duties at a later time, because those drawings are ‘very high’ to the point that the two countries have practically stopped doing business. He added that there are no threatening plans to talk to President Xi Jinping, who visits Russia this week to strengthen the relationship with his counterpart, Vladimir Putin. In a related context, the Minister of Foreign Affairs of Oman’s Sultanate said in a social media publication that the United States and the Iranian Houthi group had reached a ceasefire in the Red Sea, after a series of mutual airport attacks in both Israel and Yemen. None of the two parties have confirmed this information yet. This renewed tension comes before the fourth round of core conversations between Washington and Tehran. Brent -ruol recently fell on an excessive sales area for nine days according to the relative power index, and has penetrated the minimum ‘polyinger’ (a financial analysis instrument used to determine the degree of price fluctuations), suggesting that the market has dropped with excessive velocity. At the same time, the Chinese market reopened its doors to a holiday.