Oil prices recovered for the OPEC meeting – Economy



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economy The world crude oil market price continues to increase. The market expects OPEC oil labels to redeem new production quotas. In addition, pressure is being made at the price of reducing North Sea oil production.

Before the OPEC meeting next week, 6-7 December, discussions will be held to reduce production of 1-1.4 million barrels per day, Reuters reports with reference to OPEC sources.

In front of the OPEC meeting, Saudi Energy Minister Khalid al-Falih said during a meeting with colleagues in Nigeria that geopolitical tensions had contributed to the increase in turbulence in the oil market.

A term contract for the shipment of so-called Brent Oil in eight weeks has shrunk 30 percent, from a rate of more than $ 86 per barrel to more than $ 60 per barrel. On Wednesday, Brent oil prices rose 0.5 percent to $ 60.50 a barrel.

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