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World oil prices rise

World oil prices rise
World oil prices rise

On the first trading day of 2022, the price of oil in the world increased slightly, which means that the demand for fuel remains high despite the new strains of coronavirus.

Brent crude for March delivery rose by 0.10% to $ 79.06 a barrel.

WTI's February futures were up by 0.09% at $ 76.15 a barrel.

OPEC + will not deviate from the plan set for January and increase oil production by another 400 thousand barrels.

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.

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