Oil continues to fall in price in anticipation of the OPEC+ meeting, Brent is trading at about $84 per barrel

15:42 04.11.2021 2863

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 Oil prices of benchmark brands continue to fall, which will take place on Thursday, Interfax reports, citing MarketWatch.

 Some countries in the agreement say they lack the capacity to increase oil production, so they «will not support calls for increased production,» Zaner said in a statement.  Nevertheless, «Saudi Arabia and Iraq have real capacity to increase production», analysts say the company.

 According to experts, OPEC+ members did not seem to be able to increase production to the maximum allowed limits in October.

 «Despite growing pressure from the main oil-consuming countries – Japan, following the US and India, now also calls for increased production – OPEC+ has not shown any signs that they are ready to do this,» Karsten Fritsch, an analyst at Commerzbank said.

 By 08:05 Moscow time, January Brent oil futures on the London ICE Futures market fell by $0.68 (0.8%) to $84.04 per barrel.  On Tuesday, their price fell by $0.01 and amounted to $84.72 per barrel at the close.

 WTI futures for December in electronic trading on the New York Mercantile Exchange (NYMEX) in the morning fell by $1.05 (1.25%) – to $82.86 per barrel. Following the results of the previous session, their price decreased by $0.14 (0.2%) and amounted to $83.91 per barrel.

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