London, Sep 28 (EFE) .- The price of a barrel of Brent crude for delivery in November continues this Tuesday on the International Exchange Futures above $ 80, specifically at $ 80.29 at mid-morning, at maximums that do not reached since October 2018.
The benchmark crude in Europe, which started today’s session at $ 80.16, continued this upward trend and was up 0.95% at 9:00 GMT on the London futures market.
Behind the remarkable rally in Brent are, according to analysts, factors such as investor concern that there will be a shortage of supply while demand increases in various parts of the world while the restrictions imposed by the COVID pandemic are removed. .
In a comment sent to Efe by market analyst Craig Erlam, from the company Oanda UK, on this continued rebound in oil prices, he anticipates that “the global energy crisis could see a rise in demand for crude if the The northern hemisphere experiences a cold winter, as there are many countries that are not equipped to deal with this situation. “
If this scenario continues, this analyst believes that “pressure will grow on OPEC + to accelerate the pace after a historic production cut at the beginning of the pandemic.”
“Plans to increase production by 400,000 barrels a day each month will see production return to normal levels by the end of next year, but recent events may require the group to pick up the pace,” he explains.
Erlam believes that “the last thing the global economy needs, as it enters an uncertain winter period, is a fuel crisis on top of everything else.”
(c) EFE Agency
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