Wold petroleum market has completely overcome unexpected fall in prices

/PRIME TASS, Oct.14, 99/ - ITAR TASS informs that oil price in the European markets continued to grow during three last days. A barrel of the Brent oil on the London International Petroleum Exchange /IPE/ at the Wednesday's trades closing cost 22.60 dollars, or by 55 cents more than at opening. The similar situation developed on Wednesday on the New York Commodity Exchange, where barrel of November delivery cost 23.16 dollars. The rise in prices has made there 3.9% for one day. Thus, the world market has overcome consequences of unexpected fall in oil prices, which has taken place in the last week, and has reinstated active growth, which has begun about eight months ego. The direct reason of demand increase is the published data about more significant, than was considered earlier, reduction of stocks in USA. But the main factor ensuring the long-term tendency of rise in prices, is the strong measures of OPEC members, which are achieving the price level of 25-27 dollars/barrel by the end of a current year.