Oil quotes moved into positive territory

Oil futures regained previously lost ground and are back in the green zone. Support prices have news about the continuing forest fires in Canada, which forced some oil companies to reduce the volume of production.

At the beginning of Friday's sources said that due to the fires in the city of Fort McMurray in Northern Alberta had to reduce output by 690,000 barrels per day from 2.2 million barrels produced in the oil sands of Canada. Recently, however, these estimates have been revised upwards - up to 1 million barrels. Recall, on the Canadian oil sands account for about 2.5 million barrels a day from a pan-Canadian production to 4 million barrels a day.

In the course of trade is also affected by expectations publication Baker Hughes data on the number in the US rig. Recall the previous week the rig count in the US fell last week by 11 to 332, its lowest level in six years. Analysts say that at current oil prices, some oil and gas companies in the United States may resume oil drilling, which is why the number of drilling may soon increase, and a decrease in US production - to slow down. Against this background, oil prices can stop recovery

According to Capital Economics expert Tom Pugh, a real rebalancing the oil market will begin in the 2nd half. He predicts price growth in 2017 at around $ 60 a barrel as demand growth will outstrip supply growth, and fuel stocks will be reduced. "The current year will end Brent and WTI at $ 45 per barrel", - the expert believes.

WTI for delivery in June rose to $45.07 a barrel. Brent for June rose to $46.00 a barrel.