Completing the day at $ 63.35 yesterday Brent oilA barrel of fame is trading at $ 64.41 as of today, at 16.18, 1.67 percent higher than the close.
At the same time, a barrel of West Texas-type crude oil (WTI) found buyers at $ 60.88.
The price of a barrel of Brent oil, which registered $ 64.58 on January 22 of last year, rose to $ 64.74 today. A barrel of WTI crude rose to $ 61.26.
WELLS AND REFINERIES HAVE STOPPED IN THE US
The supply cut caused by winter conditions in the southern US state of Texas, the world’s largest oil producer, was effective in driving up prices.
While electricity and heating problems were experienced due to harsh winter conditions affecting the interior and southern states of the U.S., wells and refineries were shut down in Texas, where more oil production and production took place. natural gas than any other state in the country.
Freezing equipment and power outages due to cold weather forced oil and natural gas producers to halt operations or operate at low capacity.
PRODUCTION IN TEKSAS DROPPED BY HALF
In Texas, home to a total of 31 refineries and a daily production of about 4.6 million barrels, there was a mean drop in crude production, and this situation led to an increase in oil prices with increasing demand.
The U.S. National Weather Service has warned that cold weather will continue to affect Texas and its surroundings for a few more days, noting that with snow and freezing rain, cold weather will expand further south and northeast.
On the other hand, prices continue to be supported by a production cut imposed by the Organization of the Petroleum Exporting Countries (OPEC) and the OPEC + group, which consists of some non-OPEC producing countries.
The American Petroleum Institute estimates that it will announce today, if the decline in commercial US crude stocks is signaled, prices are expected to rise further.