Oil prices rose by about 3% on Tuesday; With supplies affected by the hurricane season in the United States of America and fears of a slower recovery from the Corona epidemic.
and the global benchmark crude (Brent blend) rose 92 cents, or 2.3%, to $ 40.53 per barrel, while US crude futures rose $ 1.02 or so. Equivalent to 2.74%, to reach $ 38.28 per barrel at settlement.
and due to the expected hurricane (Sally) towards the American Gulf, more than a fifth of the US marine oil production was closed and the main export ports were closed as the storm’s path shifted eastward, sparing some Gulf Coast refineries high winds.
The International Energy Agency yesterday cut its forecast for 2020 by 200,000 barrels per day to 91.7 million barrels per day, indicating caution about the pace of the economic recovery.
The Organization of the Petroleum Exporting Countries (OPEC) said in a monthly report on Monday, that global oil demand will decline by 9.47 million barrels per day this year, by more than 9.06. The million barrels per day that the organization expected a month ago.
On the other hand, crude oil productivity in China increased in August from last year, reaching its second highest level ever, as refineries absorbed record imports at a time. Earlier this year.
(Amazon Fun Knowledge)
