Oil price rebounds and exceeds 40 dollars
The well-known "black gold" registered a growth in its price, its highest point since March, standing at $ 44.6 per barrel
The price of oil registered a further increase, thus reaching its highest level since the beginning of March, just before the pandemic spread massively in Europe and the ‘black gold’ registered negative prices for the first time in its history.
Specifically, Brent barrel, a benchmark for Europe, stands at around $ 44.6 per barrel on Tuesday, which is equivalent to 3.19% more on the previous day. The daily maximum was $ 44.89.
In this way, the price of a Brent barrel registered its highest price since March 6.
On the other hand, the price of the barrel of reference for the United States, the West Texas Intermediate (WTI), has reached a price of 42.1 dollars, reason why it rose 3.1% compared to the previous day. US crude oil had not recorded such a high price since March 5.
Last week, the Organization of the Petroleum Exporting Countries (OPEC) and its allied nations, the group known as OPEC +, were confident that the increase in supply since August would not affect the oil market due to increased domestic demand.
From August to the end of the year, the agency will add two million barrels of crude oil daily to world production, as the second phase of its pumping control will be adopted, which foresees a cut of 7.7 million barrels per day, compared to the 9.7 million they have been cutting since May.
K. Tovar
Source: El Periódico
