The price of Brent oil for January delivery immediately fell to $83.26, the lowest level since October 6, 2023. This is evidenced by trading data on the ICE exchange.
As of 13:49 Moscow time, the barrel price of oil rose to 83.57. As the agency stated ReutersMixed economic data from China was effective in the price decline. They neutralized the impact of Saudi Arabia and Russia’s decision in August to extend the cut in oil production by 1 million and 300 thousand barrels, respectively.
Analysts believe OPEC+ is unlikely to rush to lift production curbs at its next meeting on November 26. The strengthening of the dollar and the decrease in stocks around the world were also effective in the decline in prices. A higher dollar makes oil less attractive to buyers from other countries.
Before that experts in the name The reason gas prices remain high in the European Union.
Previously in the USA statedHe said that the ceiling in oil prices from Russia led to the strengthening of the ruble.