“Since the beginning of the outgoing week, the price of Brent oil has grown by almost 3%, showing movements in the corridor of $82-85 per barrel all week, although the price failed to reach the very upper limit of the corridor of $85,” the specialist said.
The main factor that influenced the dynamics of price growth, in her opinion, was the expected start of a reduction in oil production by Russia by 500,000 bpd.
According to the analyst, next week the determining factor for the dynamics of the price of Brent will be data on commercial oil reserves in the US.
The lower the volume of stocks, the higher the price, said the interlocutor of RT.
“In the third decade of February, an upward trend was formed in the price of oil, the local resistance level for the price is at $85 per barrel, but so far Brent quotes have not been able to overcome this level and gain a foothold above it, but there is a chance of a successful assault on this mark next week .
Next week we expect the price of Brent oil in the range of $83-86 per barrel,” Milchakova concluded.
Earlier, the Russian Ministry of Finance announced a decrease in the average price of Urals oil to $49.56 per barrel.