WTI crude oil futures rose slightly. After the previous decline in Asian trading. The market still has concerns about tight supply.
As of 6:03 p.m. Thai time, the West Texas Intermediate Crude Oil (WTI) contract was delivered in December. Trading on the NYMEX was up 54 cents, or 0.65%, to $83.04 a barrel.
Oil prices soared on the back of a decline in US crude stockpiles. coupled with China’s energy demand in the midst of cold weather Electric power producers turn to crude oil and diesel following the surge in coal and natural gas prices. Rising oil demand as a result of the opening of many economies Including the fact that Saudi Arabia has rejected demands from the United States that the Organization of the Petroleum Exporting Countries (OPEC) and its allies. or OPEC Plus Add more oil production to curb the current surge in energy prices.
OPEC Plus agreed to increase oil production by only 400,000 barrels per day in November. Although many countries such as the United States and India Both pressured OPEC Plus to add more production to slow the surge in oil prices.
Investors will keep an eye on the OPEC Plus meeting on Nov. 4 to determine the oil production policy for December.
By InfoQuest News Agency (22 Oct. 64)
Tags: lifestyle, WTI, WTI oil, oil price
