Learn about oil prices on world markets … $ 48.18 for Brent contracts

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(MENAFN – Youm7) Oil prices recorded 48.18 dollars a barrel for Brent crude futures for January delivery, up 38 cents, at settlement on Friday, and US West Texas Intermediate crude hit 45.53 dollars a barrel, down by 18 cents.

A source familiar with the matter said that the OPEC group, which includes major oil-producing countries, will hold informal remote talks on Saturday before meetings scheduled for this week, according to Reuters, and OPEC is studying whether to ease oil production restrictions as of January 1, as it agreed before, or to continue in Production at the same pace in light of weak oil demand and the repercussions of the emerging Corona virus, Covid 19.

OPEC +, which includes members of the Organization of the Petroleum Exporting Countries, Russia and other producers, is scheduled to meet on November 30 and December 1, and is likely to discuss extending production cuts for next year due to weak demand with the increase in COVID-19 infections.

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