Oil rises before OPEC meeting

Нефть дорожает перед встречей ОПЕК

Brent is trading below $ 47 per barrel.

World oil prices on Wednesday, 30 November, rising amid expectations of the outcome of the OPEC meeting, which will be held today in Vienna.

So, as of 8.12 Kyiv time, the cost of the February futures for North sea petroleum mix of mark Brent rose 0.95% to 46.82 USD per barrel. The price of January futures on WTI increased by 0.66%, to 45.53 per barrel.

It is expected that at today’s meeting in Vienna, OPEC may finally resolve the issue of restrictions on its level of oil production.

Earlier, the Russian Federation has approved the accession to the agreement by OPEC on oil production

Recall that in late September, the cartel’s informal meeting in Algeria agreed on a restriction of output in the range of 32.5-33 million barrels of oil per day, but on specific limits for each of the countries of the organization while there is no agreement.

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