Global oil prices rise on supply & demand factors

Oil prices rose slightly on January 27 morning on a number of factors, Report informs referring to the auction data.

The price of March futures for Brent crude rose by 0.42% to $87.84 per barrel, March futures for WTI grew by 0.43% to $81.36.

Investors continue to evaluate the underlying factors of the market. On the demand side, China remains the main driver, where hopes for economic recovery have strengthened after the easing of quarantine. Among the important factors for the proposal are OPEC+ measures and oil sanctions against Russia.

Later on January 27, markets are looking forward to the publication of data from the US oilfield services company Baker Hughes on the number of active oil rigs in the US. During the week to December 20, their number decreased by 10, to 613 units.