Wednesday , December 8 2021

Oil prices have been crossed up business



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At the beginning of the session, Brent cradle jumped for the future of the ICE in London, $ 1.13, or 1.61 percent, to $ 71.31 in barrel.

And the future prices for WTI in December for New York Commodity Exchange (NYMEX) have risen to $ 0.68, or 1.13 percent, to $ 60.87 per barrel.

On Friday, Brent dropped $ 0.47, or 0.67 per cent, while WTI was $ 0.48, or 0.79 percent.

Last week, Brent and WTI have fallen for the fifth consecutive week and this is the longest fall in almost four years.

Saudi Arab Minister Saudi Khalid al-Falih said Sunday that a meeting between the OPEC and its partners, the OPEC + group known as the Observatory Committee in Abu Dhabi, told counterparts that OPEC + will reduce production if & # 39 ; the supply surplus is constantly monitored. According to him, he is currently seeing signs of warehousing and US market.

But the minister emphasized, ideally, that OPEC + countries would not want to reduce oil production.

After the Kh. Meeting Al-Falih reported that OPEC + oil production in December was lower than in November.

He also noted that Saudi oil exports were 500 thousand next month. barrels a day less than in November.

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