Oil prices rise ahead of OPEC+ meeting, Brent rose to $65.58 per barrel
10:19 02.03.2021 11275
Oil prices are rising on Monday, the market is awaiting new decisions by the OPEC+ countries this week regarding production levels from April 2021, Interfax reports.
The OPEC+ meeting at the level of ministers of states will be held on March 4. It will be preceded by a meeting of the OPEC+ technical committee (March 2) and the ministerial monitoring committee (JMMC, March 3), where recommendations for all OPEC+ ministers are usually developed.
Traders believe that OPEC+ will decide to increase production, but are not sure how much it can be increased.
«The OPEC+ meeting is very important», - Michael McCarthy, Oil Strategy Manager at CMC Markets Asia Pacific said. - «The market may maintain a positive mood in the event of a moderate increase in OPEC+ production, while a large increase will worsen its prospects for the near future», - Bloomberg quoted the expert's words.
The cost of May Brent oil futures on the London ICE Futures Exchange by 8:10 Moscow time on Monday amounted to $65.58 per barrel, which is $1.16 (1.8%) higher than the price at the close of the previous session.
The price of futures for WTI crude oil for April in electronic trading of the New York Mercantile Exchange (NYMEX) by this time amounted to $62.5 per barrel, which is $1 (1.63%) higher than the level at the close of the market on Friday.
In February, both Brent and WTI gained about 18%.
Oil prices decrease moderately after rising the day before, Brent - $85.68 per barrel
Oil prices during trading on Thursday, October 21, moderately decline after rising the day before, Interfax reports.
Chevron is ready to acquire Noble Energy for $ 5 billion
Major US oil company Chevron Corp reaches agreement to acquire rival Noble Energy Inc. for $5 billion, according to Reuters.
Azerbaijan and Indonesia intend to cooperate in the field of energy
A Memorandum of Understanding on Energy Cooperation between the Ministry of Energy of Azerbaijan and Indonesia is ready for signing. This was noted at the meeting of the head of the Ministry of Energy of Azerbaijan, Parviz Shahbazov, via video link with the former Ambassador of Indonesia, Husnan Bey Fanani, the press service of the Ministry of Energy of Azerbaijan reported.
Kazakh senator proposes to create a marine rescue service to clean up the Caspian Sea from oil spills
In the ports of the Mangystau region of Kazakhstan, it is necessary to create a marine rescue service to clean the Caspian Sea from oil spills, deputy of the Senate Suindik Aldashev believes, INTERFAX-KAZAKHSTAN reports.
Открытие Турцией газового месторождения в Черном море будет иметь далеко идущие последствия для будущего импорта
Открытие Турцией газового месторождения в Черном море (Tuna-1) будет иметь далеко идущие последствия для будущего импорта, сообщает Trend со ссылкой на консалтинговую компанию Wood Mackenzie.