After Chinese data revealed that demand from the world’s largest crude importer remained poor in September because to the rigorous Corona virus controls and fuel export limits, oil prices dipped on Monday.
Due to sluggish demand, which has a negative impact on the markets, as well as the strengthening dollar, which boosts the price of purchasing, transporting, and securing crude oil, crude oil prices fell during a transaction today, Monday, according to “Investing.
Oil prices reached their lowest levels today during the transactions on the “oilprice.com” website. Since the beginning of this month, there hasn’t been a dollar of 90 after recent data showed a decrease in China’s demand for oil, which heightened concerns about a rise in supply on the markets.
global price of oil
The price of Brent crude futures dropped by 0. 40% to $ 93.13 a barrel as of 2.21 p.m. US Eastern Coast time in December.
US West Texas Intermediate crude decreased by 0 for delivery in December.
To $84.53 per barrel, up 61%.
The price of Brent crude fell on Monday to its lowest level since October 3, falling to levels around $ 89 per barrel, down $4 per barrel, or 4.2%.
The price of Naymix dropped during these times, dropping more than 2.2%, or $ 2, to depths below $ 82 per barrel.
Customs data showed that although China’s imports of crude oil for the month of September were higher than August at 9.
It fell by 2% from the previous year to 79 million barrels per day.
China strengthened its oil imports and its treatment last month as refineries ended the seasonal maintenance, while the exports of fuel products jumped after allocating a new export share. Likewise, according to the “Bloomberg” agency’s accounts based on official statistics, the shipments received reached their greatest levels since May.
both Saudi Arabia and China
Last August, four months after Russian crude took the lead in the market, Saudi Arabia rejoined the list of China’s oil suppliers. From January to August, the Kingdom exported 58.31 million tonnes of oil to China, a 0.3% yearly decline.
According to the statements of the Saudi Energy Minister, Prince Abdulaziz bin Salman and Gang Jian Hua, the National Energy Officer in China, the long -term oil supplies in the long term contribute to bringing stability to the oil market that faces many cases must work together to maintain the global oil market’s stability, to keep effective communication going, and to improve cooperation in order to meet new challenges.
As of today, Monday, October 24, 2022, the price of oil globally
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