International crude oil futures closed up Thursday’s shock, Cushing crude oil inventories continued to decline, while the organization of Petroleum Exporting Countries (OPEC) Gulf members positive remarks on limiting the production agreement easing market sentiment on cooperation prospects. U.S. WTI crude oil futures prices touched intraday high of $50.06 / barrel, Brent crude oil futures prices touched intraday high of $50.90 / barrel.

As of press time, the U.S. WTI crude oil futures closed up Thursday in December 1.10%, at $49.72 / barrel; Brent crude oil futures closed up on Thursday 0.98% December, at $50.47 / barrel.
The Cushing area inventory continues to decline temporarily stabilize the oil bulls confidence in investment, the organization of Petroleum Exporting Countries (OPEC) member states continue to support production of verbal agreement, but the dollar and the market to reach a concrete agreement skepticism is still strong, all the troubles I am afraid to wait until OPEC next month after policy meetings can be cleared.

Saudi Arabia and other members of the OPEC Gulf energy minister said this week that countries are willing to oil production from their peak cut up to 4%. Iraq had said on Sunday, hoping to get OPEC to the limiting immunity, achieve the same with Libya, Nigeria and Iran privilege.
This move has increased concerns about OPEC production prospects, because of the differences between member states increase may lead to limited production agreement cannot be truly and effectively implemented. DavidThompson Powerhouse, executive vice president, said: “these are bad for oil prices, any one of the wrong political decisions are easy to make the market make extreme behavior.”