Oil prices continue to rise as OPEC + holds tight.

Oil drills will be held in Bakersfield, California on November 9, 2014 at the Kern River Oil Field. REUTERS / Jonathan Alchorn

  • Algeria says OPEC + output should not exceed 400,000 bpd.
  • Brent is leading the way for the first time in two months.
  • Increasingly American products, Iran talks are starting to weigh in again

LONDON, Oct. 29 (Reuters) – Oil prices rose more than $ 84 a barrel on Friday, a year-long high this week, in which OPEC and its partners look forward to optimism for US products and Iranian enrichment. Export.

Algeria: On Thursday, OPEC and its partners should not exceed 400,000 barrels per day due to accidents. The union, which is slowly resolving last year’s deficit, will meet on November 4.

“So the supply will continue to play out with demand in the near future,” said oil broker PVM Stephen Brenock. “In short, OPEC + aims to remain a key pillar of price support.”

Brent Crude rose 21 cents or 0.3 percent to $ 84.53 a barrel at 0822 GMT, while the West Texas Medium Index rose 10 cents or 0.1 percent to $ 82.91. Both standards hit several years on Monday.

By the time the economy recovers from the pandemic in 2021, Crud has grown. Still, prices are on the verge of falling this week – the first weekly discount for Brent in two months.

The heat was brought on by rising natural gas and coal prices due to power outages and additional signs of fuel supply.

This week’s US census showed that crude shares rose 4.3 million barrels more than expected.

Iran Talks with world powers to renew their nuclear deal in 2015 will continue in late November, she said, adding that the United States is now taking steps to increase its oil exports under US sanctions. Still, Iran’s supply seems to have faded in the near future.

“The resumption of nuclear talks with Iran and the possibility of a return to Iran’s nuclear program seem to have paved the way,” said Jeffrey Haly, an ODA broker.

More reports from Singapore and Sonali Paul in Roslan in Melbourne; Correction by Jason Nelly

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