Brent price reaches $77.2 per barrel

Oil prices changed slightly on December 6 morning after falling to lows since the beginning of July following the previous session, Report informs referring to Interfax.

February Brent futures on the London ICE Futures exchange amounted to $77.2 per barrel, which corresponds to the level at the close of the previous session.

January futures for WTI on the New York Mercantile Exchange (NYMEX) fell 6 cents to $72.26 per barrel.

Both brands ended trading on December 5 at their lowest levels since July 6.

Market participants and analysts have expressed doubts about whether OPEC+ countries will comply with the terms of the voluntary reduction in oil production by 2.2 million barrels per day in the first quarter of 2024.

Investors are assessing signals about changes in US energy inventories. According to the American Petroleum Institute (API), in the week ending December 1, oil reserves in the US increased by 594,000 barrels.