Oil (current news)
Oil prices slightly retreated from their maximum marks in the course of trading on Monday, but still maintain a positive attitude.
The main support for the oil market is provided by the effect of the OPEC + pact. On Saturday, Saudi Arabian Energy Minister Khalid al-Falih said that in the period from January to March, the level of raw material extraction in the country will be well below the quotas set by the OPEC + pact. Also, additional support is provided by the forecast of a decrease in the extraction of raw materials in East and South-East Asia.
According to the forecast of Rystad Energy, oil production in the region by 2025 can be reduced by 20%, due to the depletion of open deposits of raw materials and a reduction in the number of new discoveries.
- At the moment, WTI crude oil is traded at $ 63.67, adding about + 0.19% to the price.
- Brent crude oil is traded at around $ 67.11, adding about + 0.10% to the price.
Also, see Technical Analysis of Oil
Alexander Sivtsov