Oil quotes on the Asian auctions

Oil quotes on the Asian auctions on Tuesday kept above level of $ 47 per barrel, as dealers expect that OPEC once again cut production volumes for the meeting at the weekend, while the holdings of the United States will demonstrate the reduction in the number of "black gold", intended for commercial use .
 
The largest supplier of crude oil from OPEC member, Saudi Arabia has warned Asian customers, which in April will reduce the volume of oil they sell, traders said on Tuesday. Before the newspaper in Saudi Arabia posted the information that the world leader in oil exports would like the cartel members more closely comply with the terms of the agreement on the reduction of production, before talking about the next reduction.
 
The April futures for U.S. light crude oil rose by seven cents to $ 47.12 a barrel.
 
The April futures for Brent crude oil grade indicative added 29 cents to $ 44.42 a barrel.
 
"Many market players expect that Saudi Arabia will actively reduce the prey before the meeting (OPEC). It seems that the demand will continue to fall, and OPEC will again reduce production volumes," - said Tony Nyunan of Tokyo Mitsubishi Corp.
 
At a meeting Sunday in an international cartel may decide that a reduction in production at 4.2 million barrels a day, undertaken from September to maintain oil prices, may not be sufficient.
OPEC Secretary General Abdullah al-Badri said on Monday that OPEC does not rule out further reductions in production. This organization is going to reduce the demand forecast for 2009 in its monthly report, said al-Badri.
 
American Petroleum Institute (API) will publish data on oil stocks in the U.S. over the past week on Tuesday. Analysts expect that the Institute will report on the reduction of "black gold" at 400,000 barrels. Last week was an unexpected decline in inventories at 700,000 barrels.
According to experts, the stocks of gasoline should drop by 800,000 barrels, stocks of distillates - grow by 200,000 barrels.
Office of the U.S. Energy Information publish data on Wednesday.