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WTI oil closes minus 90 cents as OPEC Plus does not reach

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WTI oil closes minus 90 cents as OPEC Plus does not reach

by limited » Tue Jan 05, 2021 3:14 am

WTI oil closes minus 90 cents as OPEC Plus does not reach an agreement to produce oil.





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West Texas crude oil (WTI) New York markets closed down on Wednesday (4 Jan) after the Petroleum Exporting Countries (OPEC) and allies. Or OPEC Plus Still unable to reach an agreement on oil production policy. And will hold another meeting today
WTI crude oil contract for February ดาวน์โหลด slotxo delivery It was down 90 cents, or 1.9 percent, to $ 47.62 a barrel.
Brent crude oil contract (BRENT) for delivery in March. It was down 71 cents, or 1.4 percent, to $ 51.09 a barrel.
At the OPEC Plus meeting held yesterday Still unable to reach an agreement on oil production policy. Most members want the current policy to be extended. But Russia and Kazakhstan want to increase production by 500,000 barrels per day in February. Controversy over the issue prompted OPEC Plus to decide to hold another meeting today.


Previously, OPEC Plus passed a resolution to cut oil output by 7.2 million barrels per day. From 7.7 million barrels / day At the meeting on December 3, which will be effective from January 2021. This will result in OPEC Plus adding 500,000 barrels / day of oil production.


Oil prices have also come under pressure after OPEC Secretary-General Mohammed Barkindo said. “The trend of oil prices in the first half of 2021 was very volatile. And there is a risk of facing a downturn. As many countries still control socio-economic activities And there are concerns about the mutation of COVID-19 "
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