Oil market disappointed by IEA and OPEC reports

On Thursday, February 11, oil prices moved to a gradual decline: the Brent price fell by 0.5%, to $ 60.53 per barrel, and the WTI price fell by 0.67%, to $ 57.82 per barrel, unable to stay above reached an annual high of $ 58.

The market appeared to be disappointed by the controversial reports from OPEC and the IEA. Both organizations have raised their forecasts for oil production outside OPEC, despite the fact that they forecast a drop in demand in the first quarter of this year by almost 1 million barrels per day.

This morning, oil prices continue to fall: the price of Brent is declining by 0.5%, while holding above $ 60, and the price of WTI – by 0.51%, risking falling already below $ 57 per barrel. We forecast today at a Brent price of $ 60-61 per barrel.

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Review of the dollar, euro, pound, yen, qiwi and gold prices for February 12, 2021