At around 6:39 pm (Brasília time), this Wednesday (03), the WTI spot contract advanced 2.44% and was traded at US$ 61.21 / barrel on the New York Stock Exchange. The market has a positive impact on the possibility for the Organization of Petroleum Exporting Countries and Allies (OPEC +) to maintain cuts in global supply in March and April amidst the economic uncertainties caused by the coronavirus. The group's next meeting will be virtual tomorrow (03). In addition, the heated North American demand contributes to the rebalancing of the energy sector after the country's production stopped due to the extreme cold. It also eases the news that there was a jump of 21.563 million barrels in US stocks in the last week, well above the drop of 828 thousand barrels expected by experts.
This text was translated by machine from Brazilian Portuguese.