Oil rises in price this morning after a sharp drop in last week. At 9:11 am, the value of the Brent brand reached $ 61.30 a barrel, showing an increase of 1.34%, WTI rose up 1.70% to $ 56.11. Last week black gold plummeted into price - its losses reached 5%. Market players now prepare for the fact that OPEC and its allies additionally cut production - this pushes quotes up. These expectations are based on a statement by the Iraqi Oil Minister Tamir Gadban, according to whom the cartel during a meeting this week will discuss the issue of tightening production reduction framework. The growth of the index also had a positive effect on the dynamics of oil. business activity in the Chinese manufacturing industry, that happened contrary to analysts' expectations. This the indicator rose by 0.1 points, despite forecasts of its a drop of 0.3 p.Economic news from China has influence on oil prices, since this country is its largest importer.