Oil: the price returned to the level of $ 80

On Wednesday, December 29, by the end of the day, Brent crude rose 0.24% to $ 79.23 per barrel. In the American session, the price rose to $ 80.15 after the publication of the report of the US Department of Energy.

According to the latest data, US oil inventories in the week ended December 24 fell by 3.576 million barrels. Gasoline stocks fell by 1.458 million barrels, distillate stocks - by 1.726 million barrels. The volume of oil production in the United States increased by 200 thousand, to 11.8 million barrels per day.

On January 4, the OPEC + meeting will take place. The alliance is expected to continue to gradually increase oil production by 400,000 barrels per day starting in February.

The steady rise in coronavirus cases around the world and the refusal by politicians to impose tough lockdown measures are supporting shoppers. Market participants believed that Omicron was less dangerous than Delta.

On Thursday, December 30, at trading in Asia, Brent crude oil costs $ 79.38. Buyers do not intend to stop at the achieved level. The nearest targets are in the region of $ 82 per barrel. If after the OPEC + meeting the price remains around $ 80, then buyers will have an October high of $ 86.67 on the horizon.