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Falling oil prices

2021-11-25T07:12:08.805Z

Melbourne, SANA- Oil prices fell today, awaiting the response of OPEC Plus to the release of reserves led by America.



Melbourne-Sana

Oil prices fell today, awaiting the response of OPEC Plus to the release of US-led reserves.

Reuters reported that US West Texas Intermediate crude futures fell nine cents, or 0.1 percent, to $ 78.30 a barrel, continuing losses after falling 11 cents yesterday.

Brent crude futures fell five cents to $82.20 a barrel, after losing six cents yesterday.

Analysts said that US Energy Information Administration data released yesterday showed that gasoline and distillate stocks fell more than expected even as crude stocks increased, indicating the market needs more oil.

All eyes are now on the OPEC+ group, which includes the Organization of the Petroleum Exporting Countries, OPEC, Russia and allies, due to meet next week to discuss demand and oil supply.

Source: sena

All business articles on 2021-11-25

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