Oil prices decline moderately
The current week began with a decline in quotations amid growing concerns about the demand for raw materials. Today morning Brent crude was trading at $65.20 per barrel, 0.34% lower than the price of this brand at the close of the previous trading session. WTI crude oil fell by this time to 61 dollars 98 cents per barrel, or 0.26%. Bidders are concerned about the epidemiological situation that is observed in some countries.
So, in India, the number of infections during the day has increased dramatically. And this country is included in the list of the largest consumers of oil. The difficult situation associated with the coronavirus is still observed in Japan. The tightening of restrictive measures will put pressure on the quotes. A regular meeting of the OPEC + deal participants is scheduled for this week. During the upcoming meeting, an assessment of the situation on the world oil market will be given. According to Alexander Novak, who holds the post of Deputy Prime Minister in the Russian government, the current market situation can be considered balanced.