Brent oil price dropped below $90 per barrel – Kommersant
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Brent oil is trading below $90 per barrel. The last time the price was at this level was September 8.
December futures for European Brent were trading on the London ICE exchange at $89.8 per barrel at 5:04 Moscow time. The price fell by more than 2.6%. American WTI is trading on the New York Mercantile Exchange at $87.9 per barrel. Its value fell by more than 1%.
Last quarter oil has grown noticeably in price. Brent rose in price by 23.1% in three months, WTI by 28.5%.
The International Energy Agency expects a significant shortage of oil on the world market due to production restrictions by OPEC+ countries. Until now, the voluntary reduction in production by the countries of the agreement has been offset by increased supplies from the United States and Brazil. Now the IEA notes that oil supply is not keeping pace with growing demand.
Read more about the deficit in the Kommersant article. “IEA records underfilling”.
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