WTI crude oil continues to rise Recently, it rose more than 3%, breaking through the level of 81 dollars, thanks to positive factors of tightness in the market. including the depreciation of the dollar This will make oil contracts cheaper for holders of other currencies.
At 9:28 pm Thai time, West Texas Crude Oil Contract (WTI) for delivery in January. Which trades on the NYMEX plus $ 2.94, or 3.76%, to $ 81.14 / barrel.
In addition, oil prices were boosted by hopes that China would ease COVID-19 containment measures. and it will return to open up the country which will increase the demand for oil
Investors will be keeping an eye on the US Energy Information Administration (EIA) release today after the American Petroleum Institute (API) said US crude inventories fell by 7.9 million barrels last week.
Meanwhile, the market is keeping an eye on the production policy meeting of the Organization of the Petroleum Exporting Countries (OPEC) and its allies (OPEC Plus) on December 4, while five sources said that OPEC + will not change its production policy. meeting Two other sources expect OPEC Plus to cut more output.
Earlier, OPEC+ held a meeting on October 5 where the meeting agreed to cut output by 2 million bpd for November.
