Oil prices are expanding gains today, with Brent hovering close to $ 80 a barrel despite a sharp rise in Omicron cases, backed mainly by supply disruptions and expectations that US stocks have fallen. last week.
Brent crude was up $ 1.04, or 1.3%, at $ 79.64 a barrel, while WTI in New York was up $ 1.15, or 1.5%, at $ 76.72.
Both contracts are traded at the highest level of the month.
“The support also comes from the accumulated production problems in Ecuador, Libya and Nigeria as a whole, and from the expectation that there will be a big drop in US stocks,” said a UBS analyst.
These oil-producing countries have reported maintenance problems and shutdowns.
Investors are expecting the OPEC + meeting on January 4, at which the group will decide whether to proceed with the planned production increase of 400,000 barrels per day in February.
At its last meeting, OPEC + insisted on its plan to increase production scheduled for January, despite Omicron’s expansion.
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