During the today's trading session on the Asian commodity markets, the growth in the value of oil assets is hampered by an increase in the production of shale oil from the USA. Despite the raw materials falling volumes f in the USA stores, the market is not yet able to react to the quotations appreciation.

At the time of the trading platforms closing, the futures contracts for the Brent benchmark Crude Oil have increased by 0.23%, to the level of $ 61.36 per barrel. The oil futures price of the American mark WTI has slightly strengthened to the level of $ 56.05 per barrel.

Brent Crude (ICE)

WTI Crude Oil (Nymex)

The official statistics of the Energy Information Administration (EIA) indicate that the raw materials volume in the US storage facilities has decreased to the level of 448.1 million barrels (-5.6 million barrels). However, during the same period, weekly gasoline stocks in the country have increased to 220.88 million. Thus, now it shall be necessary to expect a decrease in the demand for this raw material, since the supply considerably outstrips demand.

The most important factor that has a decisive influence on oil prices at the moment is the increase in production in the USA, which reached 9.71 million barrels per day (+25,000 barrels / day) over the past week.

It is the increase in the volume of raw materials extraction in the US that seriously limits OPEC + 11's ability to achieve the desired result, i.e. the prices return at the 2013 level. Some experts are beginning to doubt whether it is possible for the cartel and Russia to influence this situation.

However, some reputable investors believe that next year we can still return to the situation when a barrel of oil will cost at least $ 80. Such a scenario can be influenced by such important factors as increasing demand and declining supply.

According to them, the supply will inevitably decline, for the simple reason that demand is steadily growing globally, while the number of new open fields has fallen to a historic low. In this context, it is unlikely that the US is able to meet the growing need for its allies in fuel. The increase in production to a record of 9.9 million barrels per day in the next year is an unrealizable dream for oil companies in the US, as this will lead to depletion of the fields being developed now. Only if the quotations exceed the $ 100 mark, the raw materials extraction will remain profitable.

How realistic these scenarios are, we will find out only in 2018. However, so far, traders should be guided by short-term forecasts. Analysts from the List of the Best Binary Option Brokers section will help them with this! In addition to high-quality forecasts, trading with the best brokers implies direct access to the market quotations and the most reliable protection of the customers’ personal data.