(New York) Oil prices ended on a positive note, having fluctuated Monday for the first session of the year just before an OPEC + meeting.
The price of a barrel of North Sea Brent for March delivery rose 1.54% to $ 78.98. In New York City, a barrel of West Texas Intermediate (WTI) for February delivery rose 1.15% to $ 76.08.
On the eve of another meeting of oil-producing countries (OPEC) and their allies via the OPEC + agreement, observers expect the course decided in May 2021 to be maintained, with a gradual increase in production , of only 400,000 barrels per day.
A day before this meeting, OPEC lowered its estimate of the surplus in global oil markets for the quarter. Operators saw this as a sign that the cartel and their allies should therefore continue their modest increase in production.
Crude prices soared last year, posting their best gains in 12 years, as vaccine rollouts allowed economies around the world to rebound, boosting demand for hydrocarbons.
In 2021, the price of Brent climbed more than 50% and that of WTI by more than 55%, boosted by the recovery in demand with the end of health restrictions at the beginning of the year.