At 3:35 pm (Brasília time), this Thursday (31), the WTI spot contract registered a strong appreciation of 3.90% and was traded at US$ 61.47 / barrel on the New York Stock Exchange. The Organization of Petroleum Exporting Countries and Allies (OPEC +), decided at its monthly meeting held today, to increase fuel production by 350 thousand barrels per day (bpd) in May and June and 400 thousand bpd in July. Although the market is waiting for the supply cuts to continue, the group still expects growth of 5.6 million bpd in global demand this year. In addition, the market assimilates advances in vaccination against coronavirus in the United States and President Joe Biden's $ 2.3 trillion plan to rebuild the country's infrastructure. Including, the modernization of 20,000 miles of highways, repair of 10,000 bridges and installation of 500,000 electric vehicle charging stations. Yesterday (31), the Information and Energy Administration (EIA) reported a drop of 876 thousand barrels in North American oil stocks, compared to a growth of 2 million barrels in the previous week and an increase of 107 thousand barrels.
This text was translated by machine from Brazilian Portuguese.