At 3:50 pm (Brasília time), this Friday (12th), WTI oil recorded losses of 2.34%, traded at US$ 59.60 / barrel on the New York Stock Exchange. The commodity appreciated this afternoon with the influence of technical adjustments in positions after losses the day before and earlier in the day. In addition to the market optimism with North American and global economic stimuli to try to mitigate the impacts of the coronavirus pandemic. Yesterday (11), the Organization of Petroleum Exporting Countries (OPEC) reported its monthly forecast for world demand to 96.05 million bpd this year, down 110 thousand bpd from the previous month's expectations. As a result, the market feels slightly relieved of an oversupply of fuel amid economic uncertainties with the pandemic. Although the Chinese Lunar New Year celebrated from today should also hamper Asian purchases of American oil.
This text was translated by machine from Brazilian Portuguese.