The world price of oil on November 23; Brent was 72 dollars and 21 cents
reported by %20%0A
The price of a barrel of Brent North Sea oil today increased by 32 cents, equivalent to 0.45%, to 72 dollars and 21 The tradition arrived. The oil West Texas Intermediate of the United States is also with 29 cents, equivalent to 0.43% of the increase of 68 dollars. And 41 cents are traded.
Decreasing demand growth forecast and the weakness of China’s economy as one of the world’s largest oil consumers continues to put pressure on the market.
The Organization of the Petroleum Exporting Countries (OPEC) announced in its monthly report on Tuesday that global demand for oil will grow by 1.82 million barrels per day in 2024. This figure was previously announced at 1.93 million barrels per day. OPEC stated that the main reason for this decrease in the forecast is the weakness of China’s economy as the world’s largest oil importer.
Oil prices rose 0.1 percent on Tuesday following the release of the news, while they had fallen about 5 percent over the previous two days.
OPEC also lowered its forecast of global demand growth in 2025 from 1.64 million barrels per day to 1.54 million.
The International Energy Agency will publish its forecast of global demand growth tomorrow.
Analysts believe that Trump’s re-election to the US presidency will not affect the infrastructure of the oil market in the short term. But the markets will still be affected by the disruption of Iran’s oil supply or the further escalation of the conflict between this country and the Zionist regime.
On the other hand, the US Federal Reserve lowered the interest rate by 0.25% at the meeting last week and raised it to 4.50-4.75%. The lowering of the interest rate strengthens the economic activities and increases the demand for energy.
