Oil rises 2% to nearly $ 47 a barrel

Oil raised more than 2% today to close to 47$ a barrel, continuing to rise during the previous meetings, thanks to the U.S. dollar and the decline in optimism that OPEC would cut production again during a meeting this month.

U.S. crude contracts for April raised 21 .1 to became 46. 73$ a barrel early Tuesday,in addition to the high on Friday of 91 .1$.
Future Brent crude up 58 cents to 43 .45 per barrel.

 
David Moore, an analyst at Bank of Australia Komnolot Said that U.S. dollar moved down a bit this morning , at the time of the coming OPEC meeting on 15 March and I think that these factors provide support.

 
dollar fell against the euro today as investors reap profits and reduce the handling of the dollar as a safe haven.

 
Venezuela was a member of the Organization of Petroleum Exporting Countries oil cartel said it would propose a reduction in the production of another organization if necessary, while OPEC prepares to meet in 15th March .

 
OPEC agreed to cut production already 2 .4 million barrels per day since September.

 
Reuter’s poll found that members had carried out 81 percent of the productivity reduction until last month.

 
SANA