The world price of oil today, 19 January 1403; Brent was 77 dollars and 34 cents

reported by %20%0A

The%20price%20of%20a%20barrel%20of%20Brent%20North%20Sea%20oil%20increased%20by%2029%20cents,%20equivalent%20to%200.38%,%20to%2077%20dollars%20and%2034%20cents.%20Texas%20Intermediate%20oil%20is%20trading%20at%2038%20cents,%20equivalent%20to%200.51%%20increase%20of%2074%20dollars%20and%2063%20cents.

%20%0AReuters%20research%20shows%20that%20the%20oil%20production%20of%20the%20Organization%20of%20Petroleum%20Exporting%20Countries%20(OPEC)%20decreased%20in%20December%20after%202%20consecutive%20months%20of%20increase.%20The%20maintenance%20of%20oil%20fields%20in%20the%20UAE%20has%20neutralized%20the%20increase%20in%20production%20in%20Nigeria%20and%20other%20regions.%20%0A

Russia’s%20oil%20production%20averaged%208.971%20million%20barrels%20per%20day%20in%20December,%20which%20is%20below%20the%20country’s%20production%20target.

%20%0A

In%20the%20economic%20field,%20job%20opportunities%20in%20America%20increased%20in%20November%20and%20the%20number%20of%20layoffs%20decreased.%20The%20price%20of%20oil%20usually%20increases%20following%20the%20growth%20of%20the%20economy.

%20%0A

On%20the%20other%20hand,%20information%20from%20the%20American%20Petroleum%20Institute%20shows%20that%20the%20country’s%20crude%20oil%20reserves%20decreased%20last%20week,%20but%20fuel%20reserves%20increased.

%20%0A

Many%20analysts%20believe%20that%20the%20average%20oil%20price%20this%20year%20will%20be%20lower%20than%20in%202024%20due%20to%20the%20increase%20in%20production%20by%20non-OPEC%20countries.

%20%0A

The%20average%20price%20of%20Brent%20crude%20oil%20is%20expected%20to%20be%2076%20dollars%20per%20barrel%20this%20year,%20while%20it%20was%2080%20dollars%20per%20barrel%20last%20year.

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