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Minor changes in oil prices.. The barrel reached this price a long time ago

Today, Wednesday, there were slight changes in oil prices, but they were not significant changes. This came in Asian trading on November 22, 2023, Wednesday, as it was compensated by the possibility of a wide increase in American crude inventories with gains resulting from potential supply cuts by the OPEC + producer alliance, and through the following lines: We will learn some details about the matter.

Details of oil prices today

This morning, Brent crude futures rose 0.1% to $82.56 per barrel, while US West Texas Intermediate crude futures rose 0.2% to $77.91.

Both indices fell for the fourth week in a row as investors remain cautious ahead of the OPEC+ meeting scheduled for next Sunday, where producer groups will discuss further supply cuts as global economic growth slows.

Oil prices rose about 2% on Monday after three OPEC+ officials said they were considering further oil supply cuts at their meeting on November 26.

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Analysts’ expectations for oil prices

Global oil prices

Analysts expect the OPEC+ alliance to extend or expand oil supply cuts next year, and the head of the Oil Markets and Industry Division at the International Energy Agency said yesterday, Tuesday, that the global oil market will see a small surplus in supply in 2024, even if OPEC+ extends the increase in cuts. Production until next year.

Sources said yesterday, Tuesday, citing data from the American Petroleum Institute, that US crude oil inventories rose by about 9.1 million barrels in the week ending November 17, while gasoline inventories decreased by about 1.79 million barrels, and distillate stocks fell by a rate of 3.5 million barrels, and it is expected that they will be issued. US government data on inventories today.

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How many liters in a barrel of oil?

The number of liters in a barrel of oil is only about 158,987 liters.

How many liters in a barrel of gasoline?

The number of liters in a barrel of gasoline is only about 73.25 liters.

How much does it cost to produce a barrel of oil in America?

The cost of producing a barrel of oil in America is only about 43 US dollars.

2023-11-22 16:30:00
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