The price of Brent oil fell below $80 a barrel for the first time since January 6
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The cost of February futures for Brent crude fell below $ 80 per barrel for the first time since January 6, follows from the trading data of the London Stock Exchange ICE. At 20:03 Moscow time, the price was down 3.25% to $79 per barrel.
By 20:07, the decline slowed down, the price of futures reached $80.12 per barrel. January futures for WTI crude fell 2.87% to $74.22 per barrel.
Earlier today, Dec. 6, the Energy Information Administration of the US Department of Energy downgraded Brent oil price forecast in 2022 from $102.13 to $101.48 per barrel. Also, the US agency raised the forecast for daily oil production in 2022 by 40 thousand barrels, to 11.87 million bpd. Production forecasts for 2023 have been increased to 12.34 million b/d (by 30,000 barrels).
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