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Oil prices up to level 40 USD /tank

Oil prices increase across the world market thanks to information of the number of falling oil rigs and the possibility of an agreement to reduce oil production is approved, according to information from  the Wall Street Journal.

Compared to the low in 13 years set in mid-February, oil prices have risen to 45%. However, many experts warn that the rise in oil prices can be stopped by information from oil reserves continued to increase. US oil inventories up to the highest level in more than 80 years.

On the New York market, crude oil prices increased to $ 1.98/tank same as 5.5% to $ 37.90/tank, the highest closing level since 12/24/2015. London market, Brent crude oil rose to $ 2.12/tank same as 5.5% to $ 40.84/tank, the highest closing in 3 months.

Although the number of oil rigs fell sharply but the US energy production has not decreased, the main reason is because the American energy companies have ability to adapt very well in cost and production efficiency.

Even if oil prices falling, they are still not too badly affected as other energy companies in the Middle East or Russia.

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