Price of oil broke a long-term record

Brent oil futures price with delivery in March 2022 exceeded $ 88 per barrel, having broken a long-term record, which was held from October 2014. This is evidenced by trading data on the ICE stock exchange.

At the time of writing news Brent cost 88.03 dollars per barrel (plus 1.8 percent). The February futures at WTI grew by 1.6 percent, up to 85.70 dollars.

According to analysts, by the end of the year, the price of oil is preserved at the level close to the current. The main reasons to prevent the growth of quotations will serve an excess supply in the world market and decline in demand due to new locomotive possible lockers in different countries. The minimum value is 65-75 dollars per barrel, the maximum is 70-80 dollars per barrel. Average value – 70.72 dollars per barrel.

Earlier, China agreed to use crude oil from its national strategic reserves. This is done in the framework of the plan, according to which the United States is united with other major oil consumers for the collapse of world prices,

/Media reports.