In the New York crude oil market on the 7th, the international crude oil futures price temporarily rose to the $93 per barrel level for the first time in about a month.
Crude oil prices continue to rise due to the view that supply and demand will tighten after OPEC Plus, which is made up of oil-producing countries, decides to significantly reduce crude oil production from next month onwards.
In the New York crude oil market on the 7th, the futures price of WTI, which is a benchmark for international crude oil trading, temporarily rose to the $93 per barrel level for the first time in about a month.
Crude oil prices continue to rise due to the view that supply and demand will tighten against the backdrop of OPEC Plus, which is made up of oil-producing countries, decided to reduce crude oil production by 2 million barrels per day from next month onwards on the 5th.
WTI futures prices temporarily exceeded $130 per barrel in early March following Russia's military invasion of Ukraine, accelerating global inflation.
After that, the price turned downward due to concerns about a slowdown in the global economy, dropping below $80 per barrel for the first time in about eight months at the end of last month.
With record inflation continuing in Europe and the United States, there are concerns that inflationary pressures will rise again if crude oil prices continue to rise.