Oil price considerably lower | IEX.nl

(ABM FN-Dow Jones) The oil price fell sharply on Monday in what was a thin trade on Easter Monday. A barrel of West Texas Intermediate became 4.6 percent cheaper at $ 58.65.

Before Easter, WTI still rose, although OPEC and its allies decided on Thursday to gradually ramp up production in the coming months.

ABN AMRO energy economist Hans van Cleef foresees that oil reserves will continue to decline. The demand for oil is growing faster than production, “which has a positive effect on oil prices”.

The energy economist does warn that the upside potential is limited in his view.

Recently, the WTI oil price has hovered around $ 60, which is about 20 percent higher than in early 2021, but 10 percent lower since a peak in early March.

ABM Financial News; [email protected]; Redactie: +31(0)20 26 28 999.–

From Beursplein 5, the editors of ABM Financial News the developments on the stock exchanges, and the Amsterdam stock exchange in particular, closely. The information in this column is not intended as professional investment advice or as a recommendation to make certain investments.