October 26, 2021

MoviesOnline

Complete Canadian News World

There are other increases at gas stations.  The price of oil has reached its peak for three years

There are other increases at gas stations. The price of oil has reached its peak for three years

The price of crude oil exceeded 81.5 dollars. per barrel, setting a record for three years. This is the result of the decisions of the OPEC + countries that decided to keep production at the current level.

At the time of writing this text Brent crude oil barrel It costs $81.72, but it’s already $81.48. The Financial Times reported the highest level in three years. Meanwhile, WTI crude oil is more expensive, posting highs not seen since 2014.

This increase in prices comes as a result of the decisions of the oil-producing countries, which decided at the OPEC + meeting to maintain production at the current level. At the same time, they ignored calls for increased interference in production. In this way, they will force a decrease in oil prices, and as a result, they will limit the growth rate of energy prices, which may pose a threat to the Economic growth after the pandemic.

Even before the meeting, Bjarne Schieldrop, chief analyst at Norway’s SEB, warned that failure to ramp up production would be “irrational”. – As a result, oil prices will rise even more This is in a situation where energy consumers around the world are facing record prices for coal and gas, he said.

See also  PepsiCo is building another snack factory in Poland. It is planned to invest more than 1 billion PLN