Friday , July 1 2022

At $ 70 a pound in 2019? Oil price rises "black Friday."


Oil prices rose more than 2% on Monday, falling last Friday at this year's highest level.

  • Gross gross earnings were $ 1.68, with a growth of $ 60.48, an increase of 2.9%.
  • On the other hand, the gross WTI had a 2.4% increase, or $ 1.21, standing at 51.63 dollars.

In this way, the price recovered some heavy losses on Friday, when they arrived It is less than October 2017Fear of excess supply. Brent dropped $ 58.41 in barrel while WTI $ 50.15 fell.

However, Monday's rise in uncertainty about new world economic growth and increase of supply was limited, including a production record between 11.1 and 11.3 million barrels in Saudi Arabia, in November, according to an industry source, mentioned by Reuters.

$ 70 barrel in 2019

Growth is growing faster than demand for current crude oil, and it is expected that global surplus will be expected to reduce the production of the Petroleum Exporting Countries Organization (OPEC) next December 6.

In general, Goldman Sachs expects the G20 meeting to be held this week raw material price growth catalyst, and OPEP and other nations will reach an agreement in order to achieve market restoration.

"Although we do not justify Brent prices, in $ 86, we do not even think about $ 59," said Goldman, at $ 201, for a $ 70 price tag to get that raw marker.

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