Thursday , August 11 2022

Oil is in demand in the United States



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Despite increasing market demand in the United States, crude oil prices dropped several months to Wednesday.

Brent crude oil was up 95 cents, up 1.52% to $ 63.48, and Texas to $ 1.20, up 2.25% to $ 54.63 a barrel.

Crude oil reserves in the United States last week rose by 4.9 million barrels, reports the Energy Information Administration (EIA).

Crude oil reserves lasted nine weeks from March 2017.

However, since December 2017 petrol reserves have fallen by 1.3 million barrels, but the stock of distillates has fallen by 77,000 barrels.

On Wednesday, the uprising did not negatively affect the overall weakness of the market.

Barrel's price lost more than 6% on the eve of the global economic downturn.

Brent has dropped by 25 percent since the slowdown in demand and a sharp increase in Saudi Arabia, Russia and the United States on October 3, reaching $ 86.74 per barrel.

In this scenario, the Organization of Petroleum Exporting Countries (OPEC) said it could reduce drainage in a few months after its expansion.

Mexico's export mixture, in its turn, was sold at $ 58.5 per barrel on Wednesday, Petroleos Mexicanos reports.

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