OIL PRICE: ABOVE $83 ANEW
Vladimir Vinogradov
WOGNEWS.NET, Global Energy Market Climate Changes News. Новости мирового энергетического рынка, изменений климата.
Brent was up by 86 cents or 1% at $83.60 a barrel. WTI gained 89 cents or 1.1% to $82.16.
U.S. President Joe Biden on Saturday welcomed congressional passage of a long-delayed $1 trillion infrastructure bill, which may boost growth and demand for fuel.?
China's export growth slowed in October but beat forecasts, buoyed by rising global demand ahead of the winter holiday seasons and improvements in coronavirus-hit supply chains.?
The Organization of the Petroleum Exporting Countries and allies such as Russia, together known as OPEC+, agreed last week to stick to their plan to raise oil output by 400,000 barrels per day from December.
Biden had called on OPEC+ to produce more crude to dampen rising prices and on Saturday said his administration has "other tools" to deal with the higher price of oil.?
Elsewhere, China's oil imports slumped in October to the lowest in three years, as state-owned refiners withheld purchases due to higher prices, while independent refiners were restrained by limited quotas for bringing in crude.?