MOSCOW, 5 Oct – PRIME. World oil prices on Wednesday evening are rising by almost 2% on the decision of OPEC + to cut production by 2 million barrels per day, according to trading data and expert commentary.
As of 19.59 Moscow time, the price of December futures for Brent crude grew by 1.91% to $93.55 per barrel, November futures for WTI rose by 1.68% to $87.97 per barrel.
OPEC+ during a face-to-face meeting in Vienna on Wednesday decided to cut oil production immediately by 2 million barrels per day from November, taking the levels agreed for August as a reference point.
Immediately after the publication of the news, oil prices were unstable – at first they accelerated growth to 1.5%, but then even started to decline. Now prices are rising in response to the imminent reduction in supply.
“If you look at long-term fundamentals, then … supply is reduced, and recession fears are likely to be excessive, which causes the market to react by rising prices to a supply shock,” Sevens Report Research analysts quoted MarketWatch as saying.
Mining on RTX 3070. Overclocking, tuning, profitability, consumption: If you are interested in finding more…
Mining with GTX 1660, 1660 Ti, 1660 Super. Overclocking, settings, consumption, profitability, comparisons - If…
Mining with RTX 2070 and 2070 Super. Overclocking, profitability, consumption, comparison What the RTX 2070…
Mining with RTX 3060, 3060 Ti. Limitations, overclocking, settings, consumption, profitability, comparison Let's look at…
Alphacool Eisblock Aurora Acryl GPX-A (2022) with Sapphire Radeon RX 6950 XT Nitro+ Pure in…
In the ever-evolving landscape of business strategy, Bitcoin has emerged as a pivotal asset. With…
This website uses cookies.