Oil prices rise slightly after OPEC+ meeting

MOSCOW, 6 Oct — PRIME. World oil prices are growing weakly on Thursday morning after the decision of OPEC + to reduce production by 2 million barrels per day, according to trading data and an expert commentary.

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As of 8:32 Moscow time, the price of December futures for Brent crude oil is growing by 0.07%, to $93.44 per barrel, November futures for WTI – by 0.02%, to $87.79.

The price of oil continues to rise on Thursday morning, although now insignificant, after the day before OPEC + decided to reduce the production of “black gold” immediately by 2 million barrels per day from November, taking the levels agreed for August as a reference point.

Bloomberg reported that, according to Nigerian Minister Timipre Sylva, OPEC+ wants prices around $90 per barrel, and that if the price drops below that, it will destabilize the economies of some countries.

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“All of the developments we’ve seen so far on the supply side are pretty much setting the stage for what we think will push prices higher before the end of this year,” said Damien Courvalin, an analyst at Goldman Sachs. , who is also quoted by the agency. “Given this reduction and winter seasonal demand, stocks will continue to decline,” the expert added.


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