Baku 27° C
Oil rises on expectations of supply cuts in November
Energy
- 02 November, 2022
- 06:24
Global oil prices on November 2 morning rose by more than 1% on the prospects for a reduction in the supply of crude on the market after the OPEC+ decision, Report informs referring to the auction data.
January futures for Brent crude rose by 1.19% to $95.77 per barrel, December futures for WTI grew by 1.41% to $89.62.
On November 2 morning, the price of oil rose. Markets continue to react to the decision of OPEC+ to reduce oil production immediately by 2 million barrels per day from November.
In addition, oil prices are also affected by the growth of additional demand in China due to information about a possible change in government policy to combat the spread of COVID in the country.
Author
Latest News
00:00
Six years pass since Tovuz battles
Domestic policy23:41
Venezuela quakes have killed 4,333, injured 16,740, National Assembly president says
Other countries23:21
Lebanon official confirms country's participation in Rome talks with Israel
Other countries23:02
Video
President: No state and no people have achieved a victory like the one won by the Azerbaijani state and its people
Domestic policy22:48
Video
President Ilham Aliyev's social media accounts shared video from meeting with residents of Guzeykhirman and Guneykhirman villages in Khojavend district
Domestic policy22:41
Israeli army says it struck Hezbollah operatives moving arms
Other countries22:17
More than 40 kidnapped children and teachers freed after Nigerian army operation
Other countries21:54
Rubio: US to use every tool to address national security threats posed by Cuba
Other countries21:33