Brent oil price dropped below 79 dollars per barrel for the first time from October 4, 2021, testifying the data of trading.
at 14:36 Moscow time the cost of January futures fell to 78.66 dollars (minus 3.18 percent compared with the closure of the previous trading session). The fall is associated with the threat of introducing new locked in Europe, in particular, Germany due to the growth of the number of ill cronavirus, writes Reuters. Oil brand WTI traded $ 76.06 (minus three percent).
On November 17, US President Joe Biden during the Virtual Summit with the Chairman of the People’s Republic of China, Jinspin asked China to use oil from its own reserves to reduce world prices. The head of the PRC declared his openness to the proposals of this kind, but did not voiced specific obligations to explore the internal needs of the country in raw materials.
Specialist of the Institute for Economic Studies of Northern Asia (ERINA) in Japan in the field of oil and gas, Tosyhiro Sugiura said that high oil prices threaten to producers and consumers of raw materials. Optimal is $ 60 per barrel. Otherwise, customers will start looking for other sources of energy, said specialist.