OIL PRICE: ABOVE $85
Vladimir Vinogradov
WOGNEWS.NET, Global Energy Market Climate Changes News. Новости мирового энергетического рынка, изменений климата.
Brent were up 59 cents, or 0.7%, to $85.45 a barrel. WTI climbed 90 cents, or 1.1%, to $83.18 a barrel.
Both contracts rose by at least 3% last week.
Prime Minister Fumio Kishida said on Monday that Japan would urge oil producers to increase output and take steps to cushion the impact of surging energy costs on industry.
Chinese data showed third-quarter economic growth fell to its lowest level in a year hurt by power shortages, supply bottlenecks and sporadic COVID-19 outbreaks.
China's daily crude processing rate in September also fell its lowest level since May 2020 as a feedstock shortage and environmental inspections crippled operations at refineries, while independent refiners faced tightening crude import quotas.