Sunday, December 4

Brent oil approached $ 80 despite rapid spread of Omicron


Both contracts operated at their highest levels in a month, at a time when England decided not to introduce new sanitary restrictions before the end of 2021, as the government awaits more evidence on whether the health service can cope with the high rates of health. infection.

“Support also comes from high aggregate production disruptions in Ecuador, Libya and Nigeria and the expectation of another big drop in US oil inventories.”said Giovanni Staunovo, an analyst at UBS.

All three countries declared force majeure this month on part of their crude production due to maintenance problems and oil field closures.

Meanwhile, a preliminary Reuters poll on Monday showed that US inventories are likely to have fallen for the fifth week in a row, while gasoline inventories were almost unchanged last week.

On the other hand, investors are expecting an OPEC + meeting on January 4, in which the alliance will decide whether to go ahead with a planned production increase of 400,000 barrels per day in February. At its last meeting, OPEC + maintained its plans to boost production for January despite the advance of the Omicron strain.



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