Oil price rose to $25.10 per barrel of Brent blend in London

/IRBIS, Apr.4, 00/ - PRIME-TASS informs that at London international oil exchange on Monday oil price kept growing until it reached $25.10 per barrel of brent blend, which is 33 cents more than Friday closing. ITAR-TASS informs, that despite the decision of OPEC to increase the production by 1.45 mln tons a day went into effect from April 1, trades in London went under the influence of uncertainty and steady prevalence of demand over the supply. It is said brokers want to make sure that production increase will create enough oil on the market and satisfy existing demand. Experts believe the markets will feel the effects of the increase by OPEC and others only after two months. Iran is said to join the general decision to increase the production while it was against it at March meeting of OPEC in Vienna. Teheran is said to increase its production by 250 th. barrels a day. It is said it maintains the integrity within OPEC, which is more important than the current prices. Based on the latest news from London, OPEC is supplying additional 1.1 mln barrels a day onto the world market, which is enough to prevent the prices from going beyond $30 per barrel, but not sufficient to lower them significantly. Most experts believe the price corridor of $22-28 per barrel of brent blend is quite real and can be maintained till the end of this year. Meanwhile, OPEC is carefully monitoring the situation on the market. On June 21 extraordinary meeting of OPEC will be held to discuss the current situation.