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Why the price of oil is on the rise

2021-08-04T17:41:20.650Z


DECRYPTION - The limitation of the offer by OPEC supports the courses. But the Covid-19 could once again slow down demand.


The price of a barrel of Brent has settled above $ 70 for two months, even approaching $ 80 in early July.

Black gold has increased by 40% since the start of the year, with repercussions on fuels very noticeable by motorists in France.

It has even almost quadrupled since its collapse in April 2020, caused by the fall in global demand, following the "great containment".

Is this a temporary rebound?

Will the rise continue?

Different news seems to freeze crude prices for the moment.

First, the Organization of the Petroleum Exporting Countries and its allies, foremost among them, Russia, united in OPEC +, ended up agreeing on a framework for production which gives visibility at the market.

Then, the Delta variant of Sars-CoV-2 calls into question the strength of the economic recovery, and therefore of the demand for oil.

Read also:

Opec + dissensions support oil prices

These factors lead many observers to bet on a

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Source: lefigaro

All news articles on 2021-08-04

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