The price of Brent oil fell below $77 per barrel for the first time since July 7. This comes from data from the London Stock Exchange. ICE.
According to their data, at 20:56 Moscow time, the Brent price fell by 5.24 percent, reaching $76.82 per barrel.
As of 21:04 Moscow time, Brent futures fell to $76.62 (-5.49%). At the same time, the price of WTI oil January futures contracts fell by 5% to $72.39 per barrel.
Formerly International Energy Agency (IEA) guess World oil shortage already exists in the fourth quarter of this year. The organization explained its assessment as the OPEC + alliance produces 900 thousand barrels per day less than the oil demand.
In November, Russian Deputy Prime Minister Alexander Novak announced that Moscow would continue an additional voluntary cut of 300 thousand barrels per day in the supply of oil and petroleum products to world markets until the end of 2023. In March, Russia began voluntarily reducing fuel production by 500 thousand barrels per day.
Previously Russia augmented Oil exports by sea despite US sanctions on tankers.
Previously recognizedHow long will oil remain the world’s main energy source?