Oil prices were high before the OPEC meeting

Oil prices are high on Thursday, and investors are waiting to see if key producers can maintain or easily cut back.

Brent oil price rose 0355GMT to 0.2% and $ 74.79 per barrel on 17 currencies. U.S. West Texas Intermediate Crude is raising at $ 73.68 a barrel and 21 currencies.

WTI is up 10% at the same time, Brent is up 8%. This is the highest reached in 2018.

The Organization of the Petroleum Exporting Countries and their allies in the second half of the world are demanding supply shortages. OPEC maintains production cuts as demand increases.

Production will not change or increase in production will be discussed at the OPEC meeting on Thursday, and the supply deficit agreement is expected to widen beyond April 2022.

Citibank analysts say oil market fundamentals need to be adequate for production cuts and OPEC supplies increase by 1 million barrels per day (BPD) a day in August.

Even after calculating OPEC production, the city with a deficit of 3 million can be expected to remain in the third quarter. Probability Brent at Max rises in $85.

Raise concerns about delta virus variation and updated locking and rising costs have already weakened the momentum of Asian industries.

Energy information management data views will rise as US demand rises, with crude stocks falling for the sixth week in a row.

The fall in crude inventory in Cushing, Oklahoma, is the lowest since March 2020, when the U.S. Confirmed the definition, which reduced the discount for Brent from September 2020 to Wednesday.

This year the average was $ 67.48 a barrel and WTI $ 64.54.

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