At around 5:43 pm (Brasília time), this Thursday (07), the WTI spot contract jumped 0.32% and was traded at US$ 50.79 / barrel on the New York Stock Exchange. The day followed the upward movement of the past few days, expectations of control of the coronavirus and a much higher drop than expected in the United States oil stocks in the last week. The Energy and Information Administration (EIA) reported yesterday (06) that oil inventories in the United States fell 8.010 million barrels in the week ended on January 1. The result was well above the drop of more than 6 million barrels in the previous week and is expected to drop by 2,133 mln barrels. During the week, the American Petroleum Institute (API, in English) pointed to a drop of 1.663 million barrels in the period. In addition, the market remains optimistic with the additional cuts that the Organization of the Petroleum Exporting Countries and Allies (OPEC +) agreed to make starting in February amid the economic uncertainties caused by the COVID-19 pandemic.
This text was translated by machine from Brazilian Portuguese.