Russian energy minister Novak speaks to Rossiya 24 TV
- all ministers confirm adherence to OPEC+ deal.
- Commercial inventory levels in August fell by 45 million barrels
- Laggards confirm plans to compensate overproduction
- Current global oil consumption seen at 93 million barrels per day
- Current oil prices reflect market situation
- Supply is 1.5 million to 2 million barrels per day lower than demand now
- Oil demand to recover in full in 2nd quarter 2021
The price of WTI crude oil futures for November delivery is currently at $41.20. That's up $0.78 or 1.93%. The October contract goes off the board today and is currently trading at $40.91. That's up $0.75 or 1.87%.
