The price of Brent crude for the first time since January 2020 exceeded $ 70

MOSCOW, 8 March – RIA Novosti. The price for North Sea Brent crude oil has increased and exceeded $ 70 per barrel. This is evidenced by the bidding data.

“Black gold” achieved such results for the first time since January 8 last year.

As of 2.02 Moscow time, May futures for Brent oil increased by 1.78 percent to $ 70.78 per barrel. April futures for WTI rose 1.72 percent, reaching $ 67.41 per barrel.

Oil continues to rise after the recent OPEC + decision to keep production at the same level. At the same time, Russia will increase it by 130 thousand barrels per day, and Kazakhstan – by 20 thousand. However, Saudi Arabia will maintain a voluntary decline in production by a million barrels per day relative to the figures of the month before last.

The decision of the alliance led to an increase in prices for “black gold”. Previously, analysts expressed the opinion that OPEC + would agree to increase production by half a million barrels.

Author: wedocount

Leave a Reply

Your email address will not be published. Required fields are marked *