This Wednesday, prices Petrillo They traded with losses on the world’s most important exchanges, despite mounting expectations for a possible economic recovery.
In the London electronic market, Brent North Sea crude futures fell 36 cents, or 0.6%, to $ 62.38 a barrel. For his part, the Petrillo West Texas Intermediate, with a handover point in Cushing, Oklahoma, was 36 cents, or 0.6%, down to $ 58.97 a unit. Meanwhile, the Organization of the Petroleum Exporting Countries (OPEC), a group that includes the main countries producing raw materials on a global level, indicated that yesterday, And his basket reached 61.33 dollars a barrelAgainst $ 61.70 last Monday, a decrease of 0.6%.
Regarding the results fuel Analysts at Australia’s ANZ Bank said today: “Optimism about the global economic outlook has boosted confidence in the market.” The International Monetary Fund said, Tuesday, that unprecedented public spending to combat the consequences of the coronavirus pandemic could boost global growth to 6% this year, a rate not reached since the 1970s.
However, based on figures obtained by the American Petroleum Institute (API), three industry sources indicated that over the past week, US crude inventories decreased by 2.6 million barrels, while oil reserves decreased by 2.6 million barrels. Gasoline increased by 4.6 million units, and distillate by 2.8 million barrels.
And earlier in the week, prices of the so-called “black gold” fell after OPEC and its allies, led by Russia, agreed to gradually ease production cuts starting in May.
Despite the increase in supplies, Stephen Brennock of PVM Brokerage said: “The group’s decision is not expected to threaten market rebalancing. Petrillo Hence the high price scenario. ”