Sunday , January 29 2023

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The price of Brent crude for delivery in February closed today at the London futures market at $ 54.35, which is 5.04 percent less than the previous session, and the lowest in the last 15 months.

Oil on the North Sea, a benchmark for Colombia, ended the day in international stock exchanges with a decrease of $ 2.89 compared to the last negotiations, when it closed to $ 57.24.

Brenta's price fell again after yesterday's experience had a small increase of 1.74%, given the fear from investors to excessive supply. It could produce, analysts say, a struggle for a market share among oil exporters.

It appears that markets are questioning whether the measure promoted by the Organization of Oil Exporting Countries and other major producers to reduce production in the first six months of 2019 will be effective.

The other side of the coin was living barrel VTI of crude oil that rose to 5.7 percent, the highest intraday profit since June to 53.85 dollars per barrel on the stock exchange in New York.

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