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Oil Prices Continue To Rise Due To The News From OPEC +

Oil Prices Continue To Rise Due To The News From OPEC + 28.04.2021


Oil Prices Continue To Rise Due To The News From OPEC +

World oil prices continue to rise on Tuesday afternoon, investors are optimistic about news from OPEC + on a deal to reduce oil production. As of April 27, the price of July futures for the North Sea Brent oil mixture grew to USD 65.5 per barrel, in June - to USD 65.98.

The oil market are expecting news from OPEC +. The meeting of all the heads of delegations of the OPEC + alliance, as well as the ministerial monitoring committee, took place on Tuesday, April 27.

The growth of quotations is supported by the message of the Bloomberg agency, released on Monday. According to the agency, the OPEC + technical committee of experts raised the forecast for the growth of world oil demand to 6 million barrels per day on average this year from the March estimate of 5.6 million. Positive expectations for demand are driving up oil prices.

The statements of OPEC Secretary General Mohamed Barkindo also have a favorable effect on oil prices. There are positive signals regarding the recovery of the global economy and the prospects for the oil industry. Over the past week, which ended on April 23, analysts noted an increase in inventories by 0.4 million barrels after increasing by 0.6 million a week earlier.


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