Brent oil on London’s ICE grows by 3.8% to $44.02 per barrel

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TASS, November 11. The price of the January futures for Brent crude oil on London’s ICE increased by 3.82% to $ 44.02 per barrel, as of 00:55 Moscow time.

As of 01:05 Moscow time, Brent crude oil slowed down and was already trading at $ 43.99 per barrel (+3.75%). WTI crude is growing by 3.64% to $ 42.1 per barrel.

The last time Brent crude oil was traded above $ 44 per barrel on September 4, 2020.

Brent crude oil price was growing against the report of the US Department of Energy. The department lowered its forecast for the price of Brent oil in 2020 to $ 40.61 from $ 41.19 per barrel. In 2021, according to the report, the price will be set at $ 46.59 per barrel.

Also, the Department of Energy lowered the forecast for daily oil production in the United States in 2020 to 11.39 mln barrels (-0.5%) and slightly increased for 2021 – to 11.1 mln barrels from 11.09 mln barrels.

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