Oil prices recovered for the meeting of OPEC – Economy

economy The price of crude oil on the world market is rising. The market expects the OPEC oil label to catch up with new production quotas. In addition, there is pressure on the prices of reduced oil production in the North Sea.

Prior to the OPEC meeting on December 6 and 7, talks will be held to cut production by 1 to 1.4 million barrels a day, Reuters reports, citing sources of # 39; Opec.

In front of the Opec meeting, Saudi energy minister Khalid al-Falih said at a meeting with his Nigerian colleague that geopolitical tensions had contributed to increased turbulence on the territory. oil market.

A futures contract for the delivery of what is called Brent Oil in eight weeks has been reduced by 30%, from over 86 dollars a barrel to just over 60 dollars a barrel. On Wednesday, the price of a barrel of Brent rose 0.5% to $ 60.50 a barrel.