Oil prices have risen again

February 16, 2022 | 21:07 |10461

At the auction on Friday evening, Brent crude futures for delivery in April 2022 were trading at above $95, having gained more than 4% in price. This is the highest figure since October 2014.

Oil prices have been rising over the past few weeks amid a shortage of supply and a recovery in demand.

The historical maximum of the price of a barrel of Brent oil - $147.50 - was recorded in July 2008.

Since August 2021, OPEC+ has been easing restrictions on oil production imposed after a sharp decline in demand in 2020. On February 2, the participants of the OPEC+ meeting decided to increase the production quota in March by 400 thousand barrels. per day.

ORIENT news