International oil prices rose during Thursday's trading, amid a state of anticipation dominating economic circles for the outcome of the OPEC + decision regarding production policy.
The Organization of the Petroleum Exporting Countries and its allies, known as OPEC+, are expected to decide today whether to release more oil to the market as planned or restrict supplies And that is after the coalition decided to add 400,000 barrels per day since August, as it is trying to gradually increase production after the record reduction decisions in 2020.
On the other hand, concerns about the new Corona mutant (Omicron) have risen; After the first case of infection was recorded in the United States, while the administration of US President Joe Biden decided to expand the current requirements for travelers to wear masks on planes, buses, trains and boats until March, to address concerns about the Omicron mutant.
The US Energy Information data revealed yesterday, Wednesday, that US oil stocks fell by 900 thousand barrels during the week ending on the twenty-sixth of November, while an expected decline of 1.5 million barrels.
Oil trading today witnessed a rise in futures contracts for Brent crude, the standard for February delivery, by 1.2%, at the level of $69.75 a barrel, and the US NYMEX crude contracts for January delivery rose by 1.3%. Or the equivalent of 86 cents, at $66.43 a barrel.
