MILANO – The oil-exporting countries slightly reopen their crude oil taps and prices accelerate despite the forecast of an increase in supply. At yesterday’s close in New York, Texas WTI crude rose 3.87% to $ 61.45 a barrel, while Brent rose to $ 64.86 (+ 3.38%).
Yesterday, members of the Opec + group surprisingly decided to increase daily crude oil production by about 350,000 barrels per day next month, by another 350,000 in June and by 400,000 in July. A decision that denies the rumors of the eve, after the Saudi Minister of Energy, the prince Abdulaziz Bin Salman he had expressed caution on the timing of the recovery in demand, suggesting that the countries would not make changes to the levels of supply.
Influencing the decision would be a phone call between the new secretary of energy Jennifer Granholm, nominated by US President Joe Biden, and Bin Salman himself, who however publicly ruled out that the phone call concerned OPEC decisions.
According to the agreement, the OPEC + cuts should thus be reduced to just over 6.5 million barrels per day compared to the current approximately 7 million over Saudi Arabia’s voluntary cut of one million barrels per day. Kazakhstan has confirmed that it will produce more oil in May and June, but has not yet provided figures. While Russia will increase its production by 114,000 barrels per day in the three months, Deputy Prime Minister Alexander Novak explained.
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