Weekly loss for oil costs in international markets… 1.7% for Brent crude – Youm7

Listed costs Oil World markets suffered weekly losses, as international benchmark crude oil declined Brent By about 1.7%, crude additionally declined West Texas The American median is about 1.1%.

Oil costs recorded $85.03 per barrel for Brent crude futures contracts, whereas US West Texas Intermediate crude futures contracts recorded $82.21 per barrel when settled on Friday.

Governments and nations of the world are all the time anticipating modifications associated to black gold (oil), whether or not associated to the quantity of manufacturing or its international costs, as a result of financial results that come from

The Group of the Petroleum Exporting Nations (OPEC) maintained its expectations for relative development in international oil demand within the years 2024 and 2025, and mentioned that resilient financial development and robust air journey will help gas use this summer time. . Though the Worldwide Vitality Company appears much less optimistic, as they revise its estimates down.

OPEC mentioned in a latest report that international demand for oil will rise by 2.25 million barrels per day in 2024 and 1.85 million barrels in 2025, unchanged from its forecast final month.

OPEC additionally raised its forecast for international financial development this yr to 2.9% from 2.8%, and mentioned it’s doable to extend this proportion, reflecting the development that occurred this yr within the path of outdoor the developed nations of the Group for Financial Co-operation and Improvement. .

OPEC mentioned, “Financial development traits in main economies remained secure within the first half.