Oil prices fell after the deterioration of OPEC demand forecasts

MOSCOW, 12 Oct — PRIME. World oil prices are falling on Wednesday evening after the publication of the October OPEC report, in which the organization worsened its forecasts for the demand for “black gold”, follows from the trading data.

OPEC lowers forecast for global oil demand in 2022

As of 18.03 Moscow time, the price of December futures for Brent crude oil is reduced by 1.61% to $92.77 per barrel, November futures for WTI – by 1.9% to $87.65.

Earlier Wednesday, the Polish pipeline operator Pern announced the depressurization of one of the two strings of the Druzhba oil pipeline leading to Germany. Against the backdrop of this news, during the day oil prices moved to moderate growth after falling by 0.5-0.8% in the morning.

Later on Wednesday, OPEC’s October report was released. The organization lowered its forecast for the growth of global oil demand in 2022 by 0.5 million barrels per day, to 2.6 million barrels. The global demand growth forecast for 2023 has also been lowered by 0.4 million barrels per day to 2.34 million barrels. After the release of the report, the quotes of “black gold” again went down.

Read This Now:   EU to use G7 oil price ceiling

Notice: ob_end_flush(): failed to send buffer of zlib output compression (1) in /home/gamefeve/bitcoinminershashrate.com/wp-includes/functions.php on line 5420

Notice: ob_end_flush(): failed to send buffer of zlib output compression (1) in /home/gamefeve/bitcoinminershashrate.com/wp-includes/functions.php on line 5420