After the announcement of the US President, Joe Biden, the price of oil on the world market fell during the last trading day.
Brent oil futures for January delivery by fell 0.82% to $ 81.75 a barrel.
Meanwhile, WTI January futures fell by 0.75% to $ 79.14 a barrel.
Yesterday, US President Joe Biden called on the President of the People's Republic of China, Xi Jinping, to further increase oil supplies to the world market. According to media reports, Biden's statement had an impact on oil prices.
At the same time, according to the American Petroleum Institute (API), US commercial oil reserves increased by 0.7 million barrels last week.
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.
Since then, the organization's member states have met every month and discussed the production plan for the next month.
The OPEC + ministers, at a meeting on November 4 this year, unanimously decided to follow the plan and not to increase oil production more than planned.
