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Oil price increases

Oil price increases
Oil price increases

World oil prices have risen as a correction over the last trading day.

Brent oil futures for December delivery rose by 0.36% to $ 83.96 a barrel.

Meanwhile, WTI December futures rose by 0.17% to $ 82.95 a barrel.

The price of Brent crude oil fell by 1.8% last week, while the value of the American WTI fell by 1%.

Investors have been closely monitoring the possibility of renewal of the nuclear deal between Iran and EU countries, which could boost additional oil supplies to the market.

Due to the declining demand for oil caused by the coronavirus pandemic, OPEC + has reduced production by 9.7 million barrels per day since May last year. With the stabilization of the situation, oil production has more or less resumed. From August 2021, the Alliance increased oil production by 400 thousand barrels per month.

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