Oil settled at the point of 44 dollars per barrel due to the reduction of supply, OPEC

Oil is stable near 44 dollars on Tuesday after a six-reversed the downward trend on Monday because the stock markets and news of the reduction of supplies from Saudi Arabia, passes Reuters.

The market is also waiting for the OPEC summit to be held on 17 December, and which is expected to be decided on a further reduction of production to support prices, reached last week, four-year minimum.

By 8 am Moscow time January futures on the American light oil rose 18 cents to 43.89 dollars per barrel. Futures on the same sorts of Brent oil added 2 cents to 43.44 dollars per barrel.

"There is some buying interest by positive news from the U.S. - and this is facilitating the rally - said Mark Pervan of ANZ Bank. - But it may be short, since we are waiting for new negative economic data, which may delete prices."

Efforts to Washington to finalize the plan of salvation problematic American bit comforted investors, and supported global stock and commodity markets.

The Japanese Nikkei index rose by 0.5% in early trading on Tuesday, followed by Wall Street.

Prices also supported hopes for a new agreement to reduce output of OPEC, which likely will be adopted at the summit of the cartel.

OPEC has already agreed to reduce production by about 2 million barrels a day to keep prices from declining, and its members call for a new reduction at a meeting in Algiers.

The largest oil exporter Saudi Arabia, which is called the "fair price" for oil 75 dollars per barrel, would increase the reduction of supply in some Asian and European customers in December and January in order to limit the rapid decline in prices.

"What can raise prices in the short term - so the decision of OPEC to next Wednesday - said Pervan. - In anticipation of the summit marked a weak buying interest."

The oil cartel will seriously fight for something that does not allow prices to fall below 40 dollars a barrel, despite the fact that in the short-term forecasts show lower prices - said the representative of the management company BlackRock.