The cost of WTI crude oil fell below the psychological mark of 35 dollars per barrel for the first time since February 2009. The price for North sea petroleum mix of mark Brent fell to EUR 37.49 dollars per barrel.
MOSCOW, Dec 14. World oil prices actively fall on reports from OPEC and the IEA production and demand for oil WTI for the first time since February 2009 fell below 35 dollars per barrel, according to AFP.
As at 14.22 GMT the price of February futures for North sea petroleum mix of mark Brent fell 2.18% to EUR 37.49 dollars per barrel. The price of January futures for oil of mark WTI has decreased on 1,84% — to 34,97 USD per barrel.
A strong decline of oil continue to influence the outcome of the OPEC meeting of 4 December. The organization decided not to change quotas on oil production, amounting to 30 million barrels per day, thus decided to maintain the level of actual production that exceeds the quota by 1.5 million barrels.
The negative trend also affected the data of the IEA report, according to which market demand expected to grow in 2015 at 1.8 million barrels of oil a day, and in 2016 — 1.2 million barrels a day. In its report, the IEA also noted that the glut on world oil markets will persist until the end of 2016.