Global Oil Prices Shadowed by Production Uncertainty

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Yosepha Pusparisa 02/12/2020 10:10 WIB

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Global crude oil prices, both Brent and WTI, remain volatile. As of Tuesday (December 1st), Brent crude oil was priced at US$57.98 per barrel, while WTI crude oil was at US$45.25 per barrel.

Global Crude Oil Daily Price (as of December 1st, 6:30 PM WIB)

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Global Oil Prices Shadowed by Production Uncertainty

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Global Crude Oil Daily Price (as of December 1st, 6:30 PM WIB)

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Global crude oil prices, both Brent and West Texas Intermediate (WTI), remain volatile. On Tuesday (December 1st), Brent crude oil was priced at US$47.98 per barrel. Meanwhile, WTI crude oil was at US$45.25 per barrel around 6:30 PM WIB.

The weakening crude oil prices are driven by uncertainty regarding OPEC+'s response to extending oil production. Members have yet to agree on production quantities for 2021 due to weak demand caused by the Covid-19 pandemic.

Editor : Muhammad Ahsan Ridhoi

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."