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Oil Prices Rise As Focus Shifts To OPEC+ Meeting

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Oil prices on Thursday rose ahead of new decisions by the OPEC+ oil association.

In the morning, a barrel (159 liters) of North Sea Brent crude for delivery in February cost 69.77 dollars, 90 per cents more than the previous day.

The price of a barrel of U.S. West Texas Intermediate (WTI) for delivery in January rose 87 percent to 66.44 dollars.

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After the emergence of the Omicron variant of the Coronavirus, which is classified as a cause for concern, had weighed heavily on oil prices several times in recent trading days, a meeting of the OPEC+ oil association has become the focus of interest on the oil market.

In the course of the day, decisions are expected on the further production policy of the oil association, in which the member states of OPEC and other important oil states, including Russia, have joined forces.

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