Oil

According to Russian experts, OPEC + 's decision on the parameters of the deal for February and March will have a positive effect on the oil market, as it reduces the likelihood of its return to oversupply and should support oil prices.

Ministers of OPEC+ countries meet to determine the level of oil production for February.

This was announced on December 29 by the Prime Minister of Belarus, Roman Golovchenko.

They are in the range from 45 to 55 US dollars per barrel, Alexander Novak said.

A significant correction in oil prices was caused by the emergence of a new strain of coronavirus in Great Britain, Alexander Novak said.

This was stated in an interview by Russian Deputy Prime Minister Alexander Novak with the TV channel Russia-24.

Russian President called for more active promotion of domestic products not only within the country, but abroad too.

The President of Russia believes that the production of petrochemicals in the next 5 years may be more promising than the production of oil.

Dmitry Peskov noted that these disagreements are considered as nothing but “working situation.”

Brent crude rose to levels seen in March.

WTI crude oil futures for January delivery grew by 1.82 %, to 43.19 dollars per barrel.

America, which has led the refining industry since the start of the oil age in the mid-nineteenth century, is facing the threat of being finally dethroned by China as early as next year, the publication reads.

They warned that the attacks would continue and advised foreign companies operating in Saudi Arabia to be careful.

China remains one of the few countries that have increased the procurement of raw materials during the pandemic.

WTI crude oil futures also rose in price.