Oil prices have dropped to their lowest levels in about five months, amid the expectation that the “OPEC+” coalition will agree to recover more suspended supplies at the weekend meeting, while the US government is the reluctance to risk the risks in the markets. The crude oil “West Texas Intermediate” has dropped by more than 2% to settle at $ 60.48 a barrel, the slightest closure since early May. Brent ruol has also closed nearly $ 64, the lowest level since the end of May. Initial signs may appear on a global surplus in the offer, at a time when US CRAN and petrol supply rose last week. Political blur in Washington is pressure on the market in Washington, the political uncertainty has added a new layer of anxiety as a White House spokeswoman, Caroline Levit, warned that the demobilization of employees associated with the government’s closing could be estimated to be estimated. This expressed more concern about the durability of the US economy and thus oil consumption. The price reduction this week was also driven by the possibility that the “OPEC+” coalition will recognize the plans to increase production when Sunday meets. In a recording conducted by “Bloomberg”, the production of “OPEC” of Crude Rose is expected to be last month. Some investment banks already expect Brent crude oil to drop to an extent of $ 50 a barrel next year. Limited support from China’s purchases The prices found some support in the fact that China bought large amounts of oil for its strategic reserves, which contributed to reducing the congestion of shares in the West. However, these purchases could delay next year, according to “Restad Energy”. “The focus this week is fully on the OPEC+ meeting this weekend. We expect the coalition to agree to return more barrels to the market next year, with the accumulation of big shares next year,” said Edward Bell, acting research head and economist at Emirates NBD. Additional supplies from Iraq have been scheduled to see the Turkish port of Jihan to drop off the first oil shipping since 2023 from the Kurdistan region of Iraq after reaching an agreement last month to resume the flow, bringing more offer to the market. Meanwhile, French President Emmanuel Macron said the detention of oil tankers could help stop the ‘shadow fleet’ that enabled Russia to bypass the sanctions and carry out its barrels around the world. But Russian President Vladimir Putin warned that oil prices “will” rise “in a rocket” and exceed $ 100 a barrel immediately, in the event that the Russian crude supplies have not reached the global market.
Political Mass in Washington Press on oil prices
