There is no sign of slowing down the run in oil prices which should record gains of 4% this week. Brent broke the $ 83 / barrel threshold to 83.15, marking a robust increase of around 1.46%. The price of oil in New York has exceeded the threshold of 80 dollars per barrel, the first time since November 2014. Its price reached 80.05 dollars per barrel (+ 2.23%).
The trend, analysts explain, essentially depends on the limited availability of energy at a global level which has allowed gas prices to rise to record highs and which has led China to request greater production of coal. Not only that, but there are also fears that the cold winter season could put gas supplies even more in difficulty.
Meanwhile, China is trying to run for cover, having ordered the Inner Mongolia region to increase coal production in an attempt to reduce the problem of low energy availability that afflicts the country. If prices are registering such a sustained trend, this is in fact also due to the surge in European gas costs, which has led to a preference for oil as a raw material for energy production, and also from the decision of OPEC + to comply plans to add only 400,000 barrels a day in November. Meanwhile, analysts believe that the price of oil will not drop by return of post because the significant supply and demand deficit that is underway will not change in the near future.