Continuation of the wave of rising oil prices for the day after shut down yesterday to a high of 8.28%

Oil prices reversed again during the day after Iran has given little hope that they will join the agreement between the Kingdom of Saudi Arabia, Russia, Qatar and Venezuela to freeze oil production at January levels. After meeting with OPEC ministers, Iranian Oil Minister Bijan Zanganeh told Shana news agency that Iran will support any measures that will help stabilize the market and improve the crude oil prices, although it has not referring to what you will be Iran to limit its own production. In the beginning, OPEC envoy Mehdi Asali said that the request to freeze the level of Iran's oil production is illogical. When Iran has been under sanctions Some countries raise their production causing a decline in oil prices, so Iran is not responsible for the low prices and should not have to pay the price. This caused a drop in oil prices to below $ 30 a barrel. But with the release of new comments from Znkenhsraan what prices habits to normal.

Oil prices reach peak weekly thanks to positive news ranging from dense freezing output to lower US inventories

Of course, the reduction in production that Iran would be a good news for the market, but not surprising, such as a request Iran rejected especially it is not the lifting of sanctions it is newly. After closing yesterday at an altitude reached 8.28% was being traded WTI at 10:00 am that day to a high of 2.38% and at the level of US $ 31.38 per barrel while he was being Brent crude traded at US $ 34.97 a barrel the one.

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Saudi Arabia topped the list of oil-producing countries that have been cut credit rating by Standard & Poor's on Wednesday, coinciding with the collapse of crude oil prices. It was downgrading the credit rating of the country's two levels to A- from A + due to falling oil prices, which will have a marked and lasting impact on the Saudi economy. It has also been reduced credit rating for each of Amman, the level of BBB + to BBB-, although it has also seen a reduction in November. It has also been reduced credit rating of Kazakhstan from BBB to BBB- from while Bahrain was lowered to BB from BBB-. This comes after the Saudi reduction less than four months for the agency Standard & Poor's to lower the level of the Kingdom to A + and one credit rating in late October. The agency said in a statement that the agreement reached this week between oil producers in the world to curb the production and revive prices will not have a material impact on the company's expectations.