World oil prices were corrected for December 21 and increased by 1%. According to Report.ge, this is evidenced by trade market data.
Brent oil futures for February delivery rose by 0.8% to $ 72.09 a barrel.
WTI January futures rose by 1.05% to $ 69.33 a barrel.
During the previous two trading sessions, the price of oil decreased by a total of 4%.
By the end of the current decade, world oil production volumes may be reduced by 30% due to reduced investment in fossil fuels.
Due to the declining demand for oil caused by the coronavirus pandemic, OPEC + has reduced production by 9.7 million barrels 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.
Since then, the organization's member states have met every month and discussed the production plan for the coming month.
