[Tokyo 9th Reuters]-Crude oil futures prices are rising. In Saudi Arabia, where the energy minister changed, government officials said the policy regarding oil and the Organization of Exporting Petroleum (OPEC) has not changed, supporting the market.
Saudi appoints Abdulaziz bin Salman as successor to Fariha Energy Minister. The state-run Saudi news agency (SPA) reported on the 8th, citing the royal decree.
Crude futures are expected to increase for four consecutive business days. The market is also supported by the United Arab Emirates (UAE) Energy Minister, who expressed that OPEC and its allies are working to maintain a balance in the crude oil market.
Brent futures <LCOc1> at 0106 GMT (10:06 am Japan time) was $ 0.07 per barrel = $ 61.61. US WTI is $ 56.72, an increase of $ 0.20 (0.3%).
Saudi officials said yesterday, “There are no changes to Saudi oil and OPEC policies. Prince Abdulaziz will work to strengthen cooperation between OPEC and non-OPEC member states.”