World

Brent oil price dropped below $90 per barrel



The price of Brent oil dropped below $90 per barrel. should from trading data on the London ICE exchange.

As of 06:33 Moscow time, the price of December Brent futures dropped to $89.88 per barrel (-2.516%), which was the minimum since September 7. During trading on October 3, the price dropped to $89.61 per barrel.

At the same time, the price of WTI oil for delivery in November fell by 2.974% to $88.09 per barrel.

On September 5, Deputy Prime Minister Alexander Novak announced that Russia would extend the voluntary reduction in oil production by 300,000 barrels per day until the end of December 2023. On the same day, Saudi Arabia announced the extension of the voluntary reduction in oil production by 1 million barrels per day for another three months – until the end of December 2023. The measure is in addition to Russia’s previously announced voluntary reduction in oil production by 500,000 barrels per day, which will be in effect until the end of 2024.

October 2 Ministry of Finance reportedthat the average price of Russian Urals oil in September was $83.08 per barrel, which is 21.7% more than in the same period last year. In January–September, the figure, on the contrary, decreased in annual terms by 26.1% to $80.58 per barrel. The price of North Sea Dated oil (similar to Brent) in September was $93.98.

https://myboxingnews.com

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button