Oil prices rose this Friday after OPEC + said it could review its policy of increasing production if demand collapsed, however, the Brent he was on his way to registering his sixth week of descents.

At 09:59 GMT, the Brent earned $ 1.91, or 2.7%, to $ 71.58 a barrel, while the West Texas Intermediate (WTI) was up $ 1.73, or 2.6%, at $ 68.23 a barrel.

The OPEC +, made up of OPEC and cartel allies, surprised the market on Thursday, when it maintained plans to add 400,000 barrels per day (bpd) of supply in January.

But producers left open the possibility of an early policy change if demand is affected by measures to contain the spread of the omicron variant of the coronavirus. They said they could talk again before their next meeting scheduled for January 4.

Markets for all assets have been rocked this week by the appearance of omicron and by speculation that it could motivate new quarantines and reduce fuel demand.

Brent is on track to close the week with a decline of 1.7%, in which it would be his sixth consecutive week in red for the first time since November 2018. The WTI has remained practically stable in the period, after five weekly falls.

Analysts JPMorgan They opined that the market decline implied an “excessive” impact on demand, while data on global mobility, excluding China, showed that the recovery continues.



Reference-www.eleconomista.com.mx

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