The price of oil on the 26th of January; Brent was 80 dollars and 3 cents
reported by Mehr News Agency quoted by Reuters, the price of oil has increased in trading on Wednesday. The possibility of disrupting Russian oil supply due to the new US sanctions against oil tankers in this country has been one of the reasons for the increase in oil prices.
The price of a barrel of Brent North Sea oil today increased by 11 cents equal to 0.14% to 80 dollars and 3 The tradition arrived. Texas Intermediate oil West also increased to $77 with 23 cents equivalent to 0.30% and 73 cents are traded.
The report of the US Energy Information Administration regarding the surplus of oil production in the next two years and its overtaking of the demand lowered the price of oil a little the other day. But the main price driver currently is Russian oil sanctions.
The main question here is to what extent the supply of Russian oil in the world market will be affected and whether it is possible to find an alternative to it to solve the market shortage.
The report of the American Petroleum Institute on Tuesday regarding the decrease in crude oil reserves of this country as the world’s largest oil consumer has also partially supported the price of oil.
Despite the crude oil reserves in the Cushing storage pole Oklahoma has increased by 600,000 barrels, but these reserves are still at a very low level. Cushing oil futures delivery place West Texas Intermediate is America.
The American Petroleum Institute reported that the country’s crude oil reserves decreased by 2.6 million barrels in the week ending January 10. In addition, gasoline stocks rose by 5.4 million barrels and gas condensate stocks by 4.88 million barrels.
Analysts expected US crude oil reserves to have increased by 1 million barrels during this period.
The US Energy Information Administration predicts that the demand for oil this year will be 104.1 million barrels per day, and the oil supply will reach an average of 104.4 million barrels per day.
The agency estimates that the price of Brent crude oil has decreased by 8 percent this year and averaged $74 per barrel. barrel will reach and then trade around $66 per barrel in 2026. It is predicted that the average price of American oil in 2025 will average 70 dollars and in 2026 it will be around 62 dollars per barrel.
