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WTI oil closes up $1.80 on speculative buying, eyeing OPEC+ meeting : InfoQuest

New York’s West Texas Intermediate (WTI) crude futures ended positive on Friday, bolstered by investors’ speculation after oil futures fell sharply on Friday. While investors keep an eye on the meeting of the Organization of the Petroleum Exporting Countries (OPEC) and its allies. or OPEC Plus and reports of US crude inventories this week.

  • The WTI crude oil contract was delivered in January. It was up $1.80, or 2.6%, at $69.95 a barrel.
  • Brent crude oil contract (BRENT) for delivery in Jan. It was up 72 cents, or 1%, at $73.44 a barrel.

Investors took speculation after WTI oil futures fell more than 13 percent on Friday to an 11-week low and the biggest single-day slump since April. 2020 amid concerns about the discovery of the COVID-19 virus Omicron species in South Africa

However, experts say People infected with the Omicron strain have mild symptoms. They can also taste and smell. which is different from the symptoms of those infected with the COVID-19 virus previously found species

Investors are keeping an eye on the OPEC Plus oil production policy meeting on Dec. 2, with OPEC Plus expected to suspend production in January 2022. to cope with the declining demand from the impact of the Omicron virus epidemic and to counter measures by the United States and its allies to drain crude oil from stockpiles.

Investors are also keeping an eye on the US crude inventories report. The US Energy Information Administration (EIA) is scheduled to release the information tomorrow at 10:30 p.m. Thai time.

By InfoQuest News Agency (30 Nov 64)

Tags: lifestyle, oil, WTI oil, crude oil, oil prices

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