NEW YORK / LONDON (dpa-AFX) – The oil prices fell a little on Tuesday. A barrel (159 liters) of the North Sea Brent cost 45.22 US dollars last. That was 15 cents less than on Monday. The price of a barrel of the US West Texas Intermediate (WTI) fell 37 cents to $ 42.52. Overall, the price fluctuations were limited.
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The ongoing fear of an intensification of the corona crisis is burdening the market. This could slow the economic recovery. This would also dampen the demand for raw material.
Oil prices tend to be supported by the persistently high production discipline of the OPEC oil cartel. However, in the past few months, smaller producers have adhered to the funding restrictions imposed during the Corona crisis less strictly than larger funding countries. To this end, they should now restrict their production more.
On the other hand, Opec has increased its funding a little since the beginning of August. The background is the hope of an economic recovery after the slump in the Corona crisis./jsl/he
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