OIL PRICES MAINTAIN THE STRENGTHENING, IN THE BEGINNING, OPEC AND US SANCTIONS POLICY
Oil prices rose to a five-month high on Monday at $ 63.45. driven by continued supply cuts by OPEC, US sanctions against Iran and Venezuela and increasing levels of health in the US economy.
Analysts from one of the banks in the United States in a note at the weekend said that oil prices moved up as OPEC + still cut supply for 4 months in a row and optimism that trade talks between the US and China helped prop up the demand outlook.
Meanwhile, traders also said that US employment data on Friday also helped Asian markets in early trading on Monday.
However, there is the potential to trigger a weakening of oil prices by the end of the year as Russia looks reluctant to get involved in an agreement with OPEC to limit production, and Russian oil production may rise again if the agreement with producer clubs is not extended when it ends before July 1, the energy minister Russia's Alexander Novak on Friday.
Russia's oil production hit a record high of 556 million tons, or 11.16 million barrels per day last year.
From the United States, crude oil production reached a record 12.2 million barrels per day.