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(LONDON), The price of oil rose above $ 60 for a barrel on Friday for the first time this year to go up about 4 percent since the beginning of the week. And that is by the support of the signs that the operating companies cut spending sector may limit the oversupply.

The growth of the euro-zone economy accelerated more than expected in the last quarter of 2014 alongwith the growth of the German economy, The region’s largest economies, also support the oil.

Brent crude fell from $ 115 in June to $ 45.19 in January, its lowest level in nearly six years due to oversupply. Signs increase since January on the contribution of the sector to reduce spending in the rise of prices of more than 30 percent.

Apache Corporation, the largest US producer of oil shale, stated on Thursday that It plans to reduce its capital expenditure number of drilling rigs in 2015 with the fall in oil prices.

The French energy giant (Total) joined on Thursday the list of companies which announce cuts in investment and jobs in the wake of falling oil prices by more than 50 percent since June.

Analysts said that the weak dollar is also supporting oil this week, as the decline in the US currency makes commodities denominated them less expensive to holders of other currencies.

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(Moscow),

Russian Economy Minister Alexei Ulyukayev said on Friday that he hopes to lift Western sanctions imposed on Russia soon. That will be after signing an agreement for a cease-fire with regard to the crisis Ukraine in Minsk, the capital of Belarus.

Russian Information Agency (RIA) quoted Ulyukayev as saying to reporters that ” I am totally convinced that there are opportunities to remove these problems.” ” I think that all parties, especially companies which tired of  this (sanctions) system,” he added.

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Preliminary data from the French National Institute of Statistics showed on Friday that the The country’s economy grew by 0.1 percent In the last quarter of 2014, in line with analysts’ expectations.

The 33 analysts, polled by Reuters, had expected, on average, the growth of the French economy by 0.1 percen. That was during the three months to December, compared with the previous quarter, which amounted to 0.3 percent growth.

The growth rate – which found support in consumer spending and public spending- means that the second largest economy in the euro zone grew by 0.4 percent over the past year.That’s in line with the government’s estimates of the growth rate during the year as a whole. This is the third year in a row which is growing by 0.4 percent.

Socialist President Francois Olond Government look forward to one percent of GDP in 2015. It also hopes that the weak growth period, which kept the low investment and high unemployment, ends.

French central bank forecast growth of 0.4 percent in the first quarter of this year supported by the increase of industrial production and a slight improvement in the service sector activity.

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