The oil market in the green zone at the beginning of a new trading week

On Monday, the price of Brent rose to the level of $84 per barrel. The current value of the asset is $83.42. 

The «black gold» was supported by the news that the Saudi state oil company Saudi Aramco in December intends to raise prices for all grades of oil for buyers from Asia, the United States, Northwestern Europe and the Mediterranean.

In particular, the price of oil supplied to Asia will be raised by $1.1-2.8 per barrel, in the United States – by $0.5 per barrel, for the countries of Northwestern Europe, the increase will be $1-3.3 per barrel, and for the Mediterranean states – $1.1-3 per barrel. 

Such a decision was prompted by assumptions that demand would remain strong, as OPEC countries and other major oil exporters would continue to restrain supply.

Recall that last week OPEC+ decided to continue to adhere to the plan to increase oil production by 400 thousand barrels per day, despite calls from many countries to increase production.