SINGAPORE (dpa-AFX) – Oil prices fell slightly in early trading on Friday. At first there was no strong impetus. A barrel (159 liters) of North Sea Brent cost $ 44.13 that morning. That was seven cents less than the day before. The price of a barrel of US West Texas Intermediate (WTI) fell 14 cents to $ 41.76.
As a trend, oil prices have risen over the past few days and weeks. The most important reason are hopes for one or more effective corona vaccines. This is expected to strengthen the weakening demand for crude oil. Oil products such as gasoline and diesel should also benefit from this.
Nevertheless, it is considered likely that the major crude oil suppliers will normalize their production more slowly than previously planned. It is expected that the Opec + oil network will postpone its production expansion planned for the beginning of 2021 by three to six months due to the tense corona situation./bgf/jha/