forex

EIA released a report on US crude inventories, down 1.1 million barrels in the week ended April 13, compared with a 3.3 million barrel draw. , while analysts predict a $ 0.5 million deficit, with total inventories down to 427.6 million barrels, remaining below the average for this time of the year.

Saudi wants oil prices at $ 80-100 a barrel
Brent on Wednesday marked the highest level since November 2014 at $ 73.93 a barrel. Industry sources say Saudi Arabia's top oil exporter will be happy to see crude oil rise to $ 80 or even $ 100 a barrel, Riyadh will not seek to change the supply agreement. The OPEC oil supply although the initial goal of the agreement was in sight. The Organization of the Petroleum Exporting Countries, Russia and some other producers have begun to reduce their supply in January 2017 in order to eradicate the surplus. They extended the treaty until December 2018 and will meet in June to review the policy. Saudi Arabia has emerged as a top proponent of OPEC measures to raise prices.

Good information can push oil prices up
Australia is a big oil exporting country that will benefit if oil prices rise
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