Oil prices rise with the support of the Asian stock markets

Almaty. March 3. KazTAG - Oil prices rise with the support of the Asian stock markets and by reducing of active rigs in the US, reports Reuters.
According to the bank Morgan Stanley, "the price of Brent trying to grow due to a sharp decline in the number of drilling rigs in the United States".
The number of working rigs last week fell by 33.
"Based on the number of units for horizontal and vertical drilling in shale deposits Permian, Eagle Ford, Bakken and Niobrara, oil production in the United States by the fourth quarter will grow by 385,000 barrels per day, ie 55,000 less than in the number of units in the previous week",- says the report of Goldman Sachs.
However, while oil production in the United States and the Middle East remains high, exceeding demand and restrain price increases.
"Production and exports to Saudi Arabia, UAE, Iraq and other Middle Eastern countries is higher than in the same period last year", - says the report of Morgan Stanley.
The sharp fall in oil prices since last June is profitable for Asian importers, analysts say.
According to analysts of the bank ABN Amro, cheap oil stimulates economic growth in India, Hong Kong, Singapore and Thailand, but China's growth will continue to slow.
According to futures at 9 am price of Brent rose by $1.05 to $60.59 per barrel, while futures for WTI - rose by $0.45 to $50.04. On Monday, Brent fell by almost 5% due to a record in US oil inventories.