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Oil Barrels with triple figure price tags in sight

Category: Economy

Date: 2022-01-18T11:11:30+0000
Oil Barrels with triple figure price tags in sight

Shafaq News/ The fears over supply disruptions following the attack waged by Yemen's Houthi group in the United Arab Emirates has contributed to the surge in oil prices to an unprecedented levels since 2014.

Brent crude is up by 13% in 2022 at $88 a barrel, reflecting signs that the Omicron variant won’t have a long-lasting impact on fuel demand.

It means that Brent and its West Texas Intermediate equivalent are both at their highest level since October 2014.

The focus is now on whether OPEC+ can deliver the 400,000 barrels a day increase it has promised each month.

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