Oil rises above US $ 50 in seesaw trading

World oil prices exceeded the level of fifty dollars a barrel on Thursday, for the first time in six Osabiagrd text ago via Twitter, with growing optimism about the prospects of coordination between the producing countries to reduce excess quantities in the market. But prices fluctuated between the rise and fall of minor proportions.

In one of the stages of the trading day, the price of Brent global combination of $ 50.05 a barrel, up twenty cents from its previous close, but fell in the other stages by 33 cents. The US crude increased 54 cents in the best stages for up to $ 47.33 a barrel.

It is expected, traders in the oil market that the producers are members of the Organization of Petroleum Exporting Countries (OPEC) and the major producers are not members, to revive talks to install production levels during the Conference for Energy, hosted by Algeria late next month, in order to support prices.

But there are others who are skeptical about the possibility of reaching a consensus among the producing countries, and analysts say that the installation of production at current levels probably will not contribute to support prices, since many producers are pumping oil at high rates.