Brent crude oil price breaks three-year record
Brent crude oil exceeds $ 81 per barrel for the first time since October 2018
The cost of North Sea Brent crude exceeded $ 81 per barrel, RIA Novosti reports.
The rise in prices is taking place against the backdrop of the decision of the OPEC + alliance not to increase production in October.
The price at $ 81 has not been seen since October 2018. Futures grew 2.5 percent after news from the OPEC + camp.
Brent crude oil is valued at $ 81.43 per barrel. The price for WTI futures is $ 77.86 per barrel.
Earlier, OPEC + decided to keep the current figures. The alliance has planned to increase oil production by 400 thousand barrels per day in November.
In May 2020, the OPEC + countries reduced oil production by 9.7 million barrels per day, from August to December 2020 – by 7.7 million.
As of July 2021, quotes are 5.76 million barrels per day. The baseline for the countries of the organization is October 2018, and for Russia and Saudi Arabia – the figure of 11 million barrels per day. The agreement is valid until 2022.
Earlier, Sputnik radio reported that the expert named the conditions for a rise in oil prices up to $ 100.