Oil has hit 3 years ahead of Opec +’s call for work to be done

Oil prices rose sharply in less than three years Opec and its allies have agreed to maintain existing oil production plans, rejecting calls to help raise energy prices around the world to protect the economy.

Brent crude oil, which is international, rose 3% Monday to sell for $ 81.48 a barrel, three years ago. The brand in the US, West Texas Intermediate, earned 1.5% to $ 77.26 a barrel, the highest rate since 2014.

The oil company, which has partnered with Russia and other countries under the Opec + ban since 2016, agreed this summer adding 400,000 barrels per production day each month by the end of 2022.

At the end of the meeting on Monday, it decided to adopt a plan, change calls to boost efficiency and disrupt prices, even as energy intensifies as other electronic devices such as natural gas rise to record.

Proponents of her case have been working to make the actual transcript of this statement available online.

The group also wants it to look consistent in its decision-making process, and to provide long-term advice to the oil market instead of making the knee-jerk re-segment need to change if the epidemic re-introduced the demands that were sought in the winter.

“The team wants to demonstrate market stability and a clear way to make it happen,” said Amrita Sen at Energy Aspects, a co-founder.

Opec + agreed on a record price last year as oil sought a foothold on the western foot. But, last week, Goldman Sachs funding warned that global reserves were dwindling sharply.

The rising energy levels caused by the rise in gas and coal prices, which have hit Europe and Asia, as well as large oil-rich resources such as China and India, make the decision more difficult for the sector.

Priced oil prices increase the demand for oil. Amin Nasser, chief executive of Saudi Arabia’s Saudi Aramco oil company, told a conference on Monday that he thought the change in oil to oil had boosted 500,000 b / d.

Bjarne Schieldrop, chief research officer at SEB in Norway, said before the meeting that failure to improve yields would be seen as “absurd”.

“Next [will be] that oil prices will rise sharply as consumers around the world suffer from severe coal and gas prices. ”

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