EnergyWatch

Oil declines, though still high upon OPEC+ decision

Prices remain underpinned by the decision of OPEC+ to not increase oil output for the time being in order to accommodate major fuel demand.

Photo: Jacob Ehrbahn/Politiken/Ritzau Scanpix

Oil prices remain high Wednesday morning CET, though they have lost some momentum compared to Tuesday. Still, they lie at the highest level seen in years as stockpiles of oil, gas and coal prompt concern over declining supply on a global scale.

A barrel of European reference oil Brent costs USD 82.51 against USD 82.9 Tuesday afternoon, with US benchmark West Texas Intermediate concurrently trading at USD 78.83 relative to USD 79.19.

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