PRESS ROOM
US oil prices at their highest level in 7 years
Friday 29th October '21
West Texas Intermediate (WTI) oil prices briefly breached $85/barrel on Monday 25 October, their highest level in 7 years. Oil prices remain buoyed by rising global demand and the wider crunch in energy markets. The Organization of the Petroleum Exporting Countries and its Partners (OPEC) is expected to meet on 04 November. If the group decides to add more supply relative to planned increases of 400k barrels per month currently, this may cause prices to ease.