WorldThe price of Brent crude oil fell to $ 73.09

The price of Brent crude oil fell to $ 73.09


The price of Brent crude oil on international markets on Thursday amounted to $ 73.09 per barrel.

At the last auction on Wednesday, the price of a barrel of this brand rose to $ 75.99, but closed the day at $ 73.43.

As of 10.20 am on July 8, the price of Brent oil fell by 0.46 percent to $ 73.09 per barrel.

The cost of futures for WTI crude oil amounted to $ 71.83 per barrel.

Prices for “black gold” jumped sharply after the cancellation of the 18th ministerial meeting of the Organization of the Petroleum Exporting Countries (OPEC) and the OPEC + group. The OPEC + ministerial meeting, which was supposed to take place on Monday, July 5, has been postponed indefinitely.

The markets remain uncertain about the prospects for oil production in the world due to disagreements between the parties to the OPEC + agreement.

Earlier, Russia and Saudi Arabia agreed on the possibility of increasing OPEC + oil production from August against the backdrop of a growing oil shortage.

The UAE has supported the increase in production since August and is ready to stick to the deal until April 2022, but said it would not support the extension of the oil production limitation agreement after April 2022, unless the country’s reference base for reducing production is increased.

According to experts, sharp fluctuations in prices for “black gold” after the cancellation of the meeting are associated with fears that disagreements between the OPEC + countries may cause irregular production in the market.

Uncertainty over demand amid the novel coronavirus infection (COVID-19) pandemic also continues to weigh on oil prices.

The Anadolu Agency’s website publishes in a shortened form . .(HAS).



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