Oil grows in cost, and Brent is at $84.44 a barrel

10:59 - 29.10.2021


October 28, Fineko/abc.az. Prices for oil of standard grades are increasing in Friday’s trading.

By 10:30 am, at the London ICE Futures Exchange the December’s Brent crude futures grew by $0.12 (0.14%) up to $84.44 per barrel. Following the trading on 28 October, the Brent crude futures for December decreased in price by $0.26 (0.31%) to $84.32 per barrel.

By 10:30 am, at the New York Mercantile Exchange (NYMEX) the WTI crude futures for December increased in price by $0.04 (0.05%) up to $82.85 per barrel. Following the trading on 28 October, the price of December’s WTI oil futures rose by $0.15 (0.18%) up to $82.81 per barrel.

Bloomberg informs that the forecast of the OPEC+ Technical Committee suggests that oil reserves in the world in the 4th quarter will decrease by an average of 1.1 million b/d. Earlier, the Technical Committee expected that stocks would decrease by 670,000 b/s.

The next OPEC+ meeting to take a decision about production volumes in the near future will be held on 4 November.

 

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