Monday , December 6 2021

Oil closes its worst month in 10 years: fell 22%



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Barrel Brent of the North Sea For delivery in January 80 cents to 58.71 dollars London market. Barrel in New York "light sweet raw" (WTI), also for the month of January He paid $ 50.93 for 52 cents.

Two types of raw Fell by 22% in November; Something unprecedented since 2008.

"We suffered from a series of bad news for oil-exporting countries"Lipow Oil Associates reacted to Andy Lipow.

Several months ago, these countries were approaching US sanctions to exclude this Opec member from the markets for Iran, adding that they have increased production. However, the sanctions were eased and the market was left with a high demand.

now "If you do not decide to reduce the extractions with at least one million barrels a day, investors will be very disappointed", Confirmed.

The issue will be the axis of discussions held by a dozen other producers, including OPEC countries and Russia, on Thursday and Friday in Vienna. In this meeting, they will analyze whether they will drop their production from the next month.

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