In Ecuador, the price has been falling in recent days, in line with the international price of WTI crude.
The international price of crude oil, and therefore that of Ecuador, continues to be pressured by the ups and downs of OPEC decisions and the news related to the new variant of COVID-19: omicron. Today, around 4:00 p.m., WTI oil (delivery: January 2022), which is the marker for Ecuador’s crude, has operated at $ 64.84 a barrel, losing about $ 0.73, compared to $ 65 , 57 at the close of Wednesday in New York.
This Thursday, Oil began the day on the rise, but turned around after the United States Government disclosed that the first case of the omicron variant was found in California, which scared the market.
Meanwhile, the Organization of Petroleum Producers OPEC Plus sought to send a message of reassurance to turbulent markets on Wednesday by announcing that it will increase its pumping in January, as planned, by 400,000 barrels a day each month, through September, without reacting to the fears unleashed by the omicron variant of SARS-CoV-2. “This is mainly due to the fact that we see a balanced market as demand is gradually recovering,” Russian Deputy Prime Minister Alexandr Novak explained on the television channel. RossÃa-24.
The issue of the price of international crude oil has also affected the price in Ecuador. The theoretical prices as of November 22 for the Ecuadorian basket (Napo and Oriente) were at $ 69.01 per barrel. By the 29th it had dropped to $ 65.60, and on November 30 it was placed at $ 63.49.
On the other hand, the OPEC considered that it is still too early to assess the eventual impact of the new strain of coronavirus on oil consumption, or the slight reduction in the mobility of people in Europe and Africa caused by restrictions to curb the current wave of infections. It is that in other regions, such as Latin America and Asia, “there is an increase” in transfers, “so we have to observe” the evolution, he stressed. Thus, OPEC Plus has left a door open to change things at any time if it deems necessary, through an unusual formulation in the final declaration of its meeting, where it states that this “remains in session” to continue closely monitoring the evolution of the COVID pandemic.
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