Oil (current news)

Oil continues to decline at a rapid pace after Russian Energy Minister Novak hinted about the possibility of revising OPEC’s agreement to limit world oil production on Thursday. Earlier, the US also spoke out for the fact that demand has increased significantly and it is worth revising the volume of oil production. As a result, the oil market began to sell oil on the fear that the OPEC agreement on oil limitation will be revised.

Thus, the oil market already takes into account the possibility of raising production quotas, lowering oil prices to the level of the beginning of last week, thereby casting doubt on the persistence of the upward trend in oil.

At the moment, Brent crude is traded at around $ 77.20, a decline of about -2.00% in price.

The WTI is traded at $ 69.40, a decline of about -1.690% in price.

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Dani Leviant