At 5:43pm Thai time, West Texas Intermediate (WTI) crude oil price for December delivery. fell 4.49 dollars or 6.26% to 67.29 dollars/barrel.
The Israeli army attacked military targets in Iran on Saturday. This was in response to Iran launching nearly 200 missiles against Israel.
However, Israel refrains from attacking the oil fields. including Iran’s nuclear facilities At the request of US President Joe Biden
Iran’s oil industry continues to operate as usual. Iran is the third largest oil producer in the Organization of the Petroleum Exporting Countries (OPEC) and has a production capacity of 3.2 million barrels per day. or making up 3% of the world’s oil production.
Oil prices have also been pressured by oversupply concerns as the United States, Canada, Brazil, Argentina and Senegal have all increased their domestic crude production capacity. Including that forecast Organization of the Petroleum Exporting Countries (OPEC) and associated countries or OPEC Plus It will begin to increase production capacity to 180,000 barrels / day in December.
By InfoQuest News Group (28 Oct ’24)
2024-10-28 11:38:00
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