Oil at its highest levels for several months

Oil ended the last day of last week with an increase of nearly 1%, or to its highest value in a few months. This happened after OPEC countries decided after their meeting in Vienna that they would wait until January before deciding on their production cuts.
Brent ended last week with an increase of 43 cents, or by 0.8% to a level of 56.86 dollars a barrel. This is very close to the highest raw material values since September, commented market observers.
Brent received further impetus from Nigeria's presence at the meeting and comments from the country's minister that despite the fact that Nigeria was excluded from OPEC's production cuts, it actually produced less oil.
US crude oil finished with raise by 11 cents on Friday, or by 0.2 percent to a level of $50.66 a barrel. Continuous trading of the raw material over $50 a barrel causes many market participants to be positive about its future growth.
For the week, Brent added 2.2% while US crude rose by 1.5%.
For the past three months, oil has risen by more than 15 percent, which is evidence that the cut-off of OPEC production, by 1.8 million barrels a day, has its expected impact.