Wednesday , August 17 2022

The price of oil fell below $ 67


The price of oil fell below $ 67

Prices for "black gold" continue to decline

Brent Crude in London fell by $ 0.46, while WTI's price in New York fell by $ 0.29.

World oil prices for reference brands are slightly reduced by reports on the upcoming meeting of OPEC + countries in Vienna, scheduled for early December. This is evidenced by trading data in the morning on Tuesday, 20 November.

London Stock Exchange futures prices for the Brent North Sea oil products at the ICE Futures in Kiev fell 0.46 USD (0.69%) to 66.33 USD per barrel.

WTI oil prices with January delivery in the New York Mercantile Exchange (NYMEX) dropped by $ 0.29 (0.51%) to $ 56.91 per barrel.

According to Interfax, investors continue to evaluate the likelihood that the OPEC + countries will decide to reduce oil production at the December meeting in Vienna.

"OPEC is continuing to talk about cuts in oil production to halt falling prices, but Russia does not seem to support such an idea, which raises Saudi Arabia's responsibility for any coordinated action," said Robbie Fraser, a commodity analyst.

Last week, prices for Brent and WTI fell by 7.1% and 6.6% a day. Since March, minimum rates have been reached. Brent was priced at $ 65.19 per barrel and WTI reached $ 55.34. In addition, the WTI percentage drop in one day was the fastest in three years – from September 2015.

News from in a telegram. Sign in to our channel

Source link