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Brent oil rises 1.63%, to $ 64.40

Brent oil rises 1.63%, to $ 64.40


The price of a barrel of Brent oil for delivery in February ended today in the London futures market at $ 64.40, 1.63% more than at the end of the previous session.

The North Sea oil, a benchmark in Europe, concluded the day at the International Exchange Futures with an increase of $ 1.03 compared to the last negotiation, when it closed at $ 63.37.

Confirmation that the Organization of Petroleum Exporting Countries (OPEC) and its partners, including Russia, will withdraw half a million barrels per day from January onwards boosted the price of European crude.

The oil cartel decided to readjust its combined level of production to “balance the market” and prevent crude oil from shrinking due to excess supply.

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