Monday, December 6, 2021
HomeWorld AffairsOil Is Still On A Roll And Is Close To 86 Dollars

Oil Is Still On A Roll And Is Close To 86 Dollars

The price of Brent oil futures rises 0.4% compared to Friday and reaches 85.90 dollars per barrel, although throughout the day it has reached 86.70 dollars. In this way, it establishes a new annual maximum and is revalued by 65.9% since January.

By contrast, West Texas futures fell a slight 0.11% to $ 83.6 per barrel, after hitting $ 83.87 last week (its annual high). So far this year, US crude has gained 72.40% on the stock market. 

“Russia expects [the group] OPEC + to increase its oil production by 400,000 barrels a day at its November 4 meeting, as previously agreed,” Reuters reports , citing Russian Deputy Prime Minister Alexander Novak. He has noted that he also expects oil demand to reach the pre-pandemic level by the end of next year, but has said that it is difficult to predict whether oil prices will set an all-time high as gas prices have.

The price of Brent oil futures rises 0.4% compared to Friday and reaches 85.90 dollars per barrel, although throughout the day it has reached 86.70 dollars. In this way, it establishes a new annual maximum and is revalued by 65.9% since January.

By contrast, West Texas futures fell a slight 0.11% to $ 83.6 per barrel, after hitting $ 83.87 last week (its annual high). So far this year, US crude has gained 72.40% on the stock market. 

“Russia expects [the group] OPEC + to increase its oil production by 400,000 barrels a day at its November 4 meeting, as previously agreed,” Reuters reports , citing Russian Deputy Prime Minister Alexander Novak. He has noted that he also expects oil demand to reach the pre-pandemic level by the end of next year, but has said that it is difficult to predict whether oil prices will set an all-time high as gas prices have.

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