Oil prices rise, Saudi crude oil exports decline ... Brent Oil $ 56.18

International oil prices have risen due to a decline in Saudi oil exports.

The US West Texas crude oil price of the New York Mercantile Exchange (NYMEX) is not on the President's Day holiday.

Brent prices in the European Central Bank (ICE) rose $ 0.37 to $ 56.18 per barrel, while Dubai crude prices in the Middle East rose $ 0.40 to $ 54.46.

According to the Joint Organization Data Initiative (JODI) of the Petroleum Statistical Institute, crude oil exports in Saudi Arabia last year fell 244,000 barrels from November to 801.4 million barrels.

Saudi Arabia's crude oil exports last year were about 7.65 million barrels, up 260,000 barrels from 2015.

As US crude oil drills have increased for five consecutive weeks, concerns over rising US crude oil production are growing.

Goldman Sachs said, "If US crude oil prices remain at current levels, crude oil in the shale regions of Permian, Eagle Ford, Bakken, Niobrara, etc., Production will increase by about 405,000 barrels per day. "

The number of US crude oil drills has reached 597, the highest level since October 10, 2015 (605).

Oil prices climbed yesterday as US financial markets closed for President's Day.

Oil prices climbed yesterday as US financial markets closed for President's Day.

On the New York Mercantile Exchange (NYMEX), West Texas Intermediate (WTI) for March delivery closed at $ 53.69 a barrel, up $ 0.29, or 0.5 percent, the day before.

Brent crude futures for April delivery rose $ 0.37, or 0.7 percent, to $ 56.18.

According to official data released by the Organization of Petroleum Exporting Countries (OPEC), crude oil shipments in Saudi Arabia, the largest oil producer, fell to 80.14 million barrels a day in December from 8.25 million barrels in November.

Investors are expecting major oil-producing countries to cut production cuts and expand crude oil futures and options investments to a record high.