Oil now
At the auction on Tuesday, oil quotes were under pressure of correction, which was caused by a report on the growth of OPEC crude oil production to an annual maximum. As a result, oil production in OPEC reached a mark of 32.6 million barrels per day, thereby restoring the growth of pessimistic sentiment associated with the growth of supply. The increase is justified by the compensation of the Iranian proposal, which is limited by US sanctions.
The two-week upward dynamics in oil from this slowed, but remains ascending. Also, the attention of the oil market is gradually shifting to the expectation of data on oil reserves in the US, which will come out in the coming days.
See Technical Analysis of Petroleum
At the moment, Brent crude is trading around $ 75.30, a decline of about -0.40% in price.
WTI oil is trading at $ 69.80, a decline of about-0.50% in price.
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Dani Leviant
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