The world price of oil on January 11; Brent 74 dollars and 39 cents
reported by from the world’s biggest consumers.
The price of a barrel of Brent North Sea oil today increased by 22 cents equivalent to 0.30% to 74 dollars and 39 The tradition arrived. Texas Intermediate oil West also increased by 41 cents equal to 0.58% to $71 and 40 cents is traded.
Factory output in China rose for a third straight month in December, but the pace of expansion slowed. It seems that the new financial incentives have been effective in supporting the world’s second largest economy.
Chinese authorities have also agreed to issue 3 trillion yuan ($411 billion) in special bonds in 2025 to revive economic growth.
While the weak demand outlook has weighed on prices, the decline in US crude oil inventories is supporting it in the short term. US oil reserves are expected to have dropped by about 3 million barrels per day last week.
The more than expected decrease in US crude oil stocks in the week ending December 20, following the increase in the activity of refineries and the increase in demand for fuel during the holiday season, has increased the price of both of these oil indices.
