11:56 - 15.12.2020

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December 15, Fineko/abc.az. Benchmark oil prices are declining in Tuesday’s trading after OPEC lowered its forecast for oil demand in 2021.

OPEC’s updated forecast says that next year the global oil demand will grow by 5.9 million b/d that is by 0.35 million b/d worse than the previous forecast. According to the new OPEC forecast, the oil demand in 20121 will be 96.89 million b/d.

By 9:37 am, at the London ICE Futures Exchange the price of February Brent crude futures decreased by $0.38 (0.76%) to $49.91 per barrel. At the end of trading on 14 December the Brent futures for February rose in price by $0.32 (0.64%) up to $50.29 per barrel.

By 9:37 am, at the New York Mercantile Exchange (NYMEX) the WTI crude futures for January declined by $0.35 (0.74%) to $46.64 per barrel. At the end of trading on 14 December the WTI oil futures for January rose by $0.42 (0.9%) to $46.99 per barrel.