(MENAFN) On Tuesday, November 23, crude costs fell in Asia and were weighed down by the possibility that the United States and many other major crude-consuming countries would supply their crude reserves amid a possible slowdown in the economy. demand due to the re-emergence of the coronavirus in Europe.
During the same day, Brent crude’s fortunes fell 0.45% to $ 79.35 per barrel (bbl), while West Texas Intermediate crude’s fortunes fell 0.66% to 76. 24 USD / bbl.
According to Bloomberg, US President Joe Biden will unveil the discharge of the country’s strategic oil reserves, India, Japan and South Korea are expected to join the lawsuit.
He added that the Organization of the Petroleum Exporting Countries and Allies (OPEC +) could modify operational plans in response to the organized evacuation of crude reserves if importing countries move forward with the proposal.
Legal warning: MENAFN provides the information “as is” without warranty of any kind. We accept no responsibility for the accuracy, content, images, videos, licenses, completeness, legality or reliability of the information contained in this article. If you have any complaints or copyright issues related to this item, please contact the supplier above.