09:50 - 5.01.2022

---

January 5, Fineko/abc.az. Prices for oil of standard grades are decreasing in Wednesday’s trading  after a jump the day before.

The American Petroleum Institute informs that oil reserves in the U.S. for the week ended December 31 fell by 6.4 million barrels.

By 9:34 am, at the London ICE Futures Exchange the March’s Brent crude futures fell by $0.15 (0.19%) to $79.85 per barrel. Following the trading on 4 January, the price of Brent crude futures for March increased by $1.02 (1.29%) up to $80.00 per barrel.

By 9:34 am, at the New York Mercantile Exchange (NYMEX) the WTI oil futures for February dropped in price by $0.18 (0.23%) to $76.81 per barrel. Following the trading on 4 January, the price of February’s WTI oil futures grew by $0.91 (1.2%) up to $76.99 per barrel.

Following the January meeting, the OPEC+ ministers decided to adhere to the previously adopted plan to increase production in February, despite forecasts of a surplus in the market and the spread of the new strain of omicron coronavirus.

The next OPEC+ meeting is scheduled for 2 February.