09:41 - 15.11.2022

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November 15, Fineko/abc.az. Prices for oil of benchmark grades are declining in Tuesday’s trading, falling the day before because of deterioration of OPEC's forecast on oil demand.

The price of January Brent crude futures at the London ICE Futures Exchange decreased by $0.29 (0.31%) to $92.85 per barrel by 09:23 am. Following the trading on 14 November, these contracts fell by $2.85 (2.97%) to $93.14 per barrel.

The price of December WTI oil futures on the electronic trading of the New York Mercantile Exchange (NYMEX) by 09:23 am decreased by $0.53 (0.62%) to $85.34 per barrel. Following the trading on 14 November, the value of these contracts fell by $3.09 (3.47%) to $85.87 per barrel.

OPEC lowered the estimate of oil demand in 2022 by 100,000 b/d to 99.57 million b/d and in 2023 - also by 100,000 b/d to 101,820 b/d.