The world price of oil fell

According to the Fars International Economic Group, quoted by Reuters, the price of oil in Friday’s trading fell by about 2 percent due to concerns about the increase in interest rates by the American Central Bank, which could affect the demand for oil, and was on the way to record. Weekly reduction is placed.

This policy of the Federal Reserve damages fuel consumption in America and the demand for this product in the conditions of increasing oil reserves in this country.

Two US central bank officials said yesterday that more interest rate hikes are needed to fight inflation. These statements have raised expectations for interest rate hikes, which will strengthen the dollar and make oil prices more expensive for owners of other currencies.

Brent crude was down $2.19 at $82.95 a barrel, and US crude was down $2.33 at $76.16 a barrel.

Both oil indices are on track to register a weekly decrease of more than 3%.

On the other hand, signs of increased reserves have also affected the price of oil.

Today, Vedomosti newspaper quoted knowledgeable sources as saying that Russian oil producers expect that despite the government’s plan to reduce oil production in March, the current volume of crude oil exports will not change.

The latest U.S. inventory data released on Wednesday showed that crude oil inventories rose by 16.3 million barrels to 471.4 million barrels in the week ended Feb. 10, the highest since June 2021.

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