This week, OPEC will announce the impact of the increase in Russian oil supply on the oil price/policy

According to the Fars International Economic Group, quoted by Reuters, since the supply of Russian oil has been strong and this neutralized the effect of the release of strong economic statistics from the United States and the hope of a rapid improvement in demand in China, the price of oil decreased on Friday. Found.

Also, the price of this basic product has not changed much during the last week and has remained almost constant.

Brent crude was down 81 cents at $86.66 per barrel, and US crude was down 1 dollar and 33 cents at $79.68 per barrel.

Crude loadings from Russian ports in the Baltic Sea rose 50 percent this month from last month, traders said, as sellers tried to meet strong demand in Asia and take advantage of rising global energy prices.

Oil market analyst John Kilduff believes: “If Russian oil supply remains strong until next month, oil prices will go down.”

He added that profit taking at the end of the week has also lowered the prices.

At the same time, OPEC representatives are meeting this week to review crude oil production levels, and informed sources say that the group’s oil production policy will not change.

Among other factors of the decrease in oil prices is the increase in US oil reserves, Cushing reserves increased by 4.2 million barrels last week.

The number of corona patients in China has decreased by 72% compared to its peak at the beginning of this month, and the number of deaths due to this disease has also decreased by 79%. These statistics indicate the improvement of the country’s economy and strengthen expectations for improved demand for oil.

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