International oil prices fell in early trading on Thursday, amid increasing US gasoline stocks and growing fears of a decline in global demand for crude.
The Energy Information Administration data showed that US gasoline stocks rose by 10.1 million barrels for the week ending December 31, 2022, however, oil stocks fell by 2.1 million barrels during the same period. .
For its part, OPEC + is heading to continue increasing production of crude, as Haitham Al-Ghais, the new Secretary-General of OPEC, stressed in an interview with Al-Sharq, that the organization and its allies have sufficient flexibility. To face fluctuations in demand, he pointed out that OPEC does not target a specific price of oil, but its goal is to reach a balance between supply and demand.
In terms of today's trading, Brent crude futures for March delivery fell by 0.9% to $80.07 a barrel.
The US NYMEX crude contracts for February delivery also fell 0.9% at the level of $77.15 a barrel.
