The President of the United States Donald trump demanded that OPEC “to reduce oil prices”. About this he wrote on his Twitter page.

Photo: Reuters

“We are defending the Middle East. They would not be long in a security without us, and despite this, they continue to increase the price of oil! We’ll remember,” said the American leader.

On Tuesday, September 18, the International energy Agency (IEA) admitted that oil prices could rise above $ 80 per barrel due to the fall in production and export of this fuel from Venezuela and Iran. The IEA noted that, to avoid this, other manufacturers can compensate for the low oil production in these countries .

Analysts noted that the Iranian oil exports declined even before the renewal of us sanctions. In their opinion, the level of oil production in Venezuela could fall to 1 million barrels a day and refineries in oil from Venezuela and Iran, may face difficulties on the replacement of fuel from these countries. The IEA noted that the spare capacity of OPEC countries at the moment is 2.7 million bbl./day, of which 60% comes from Saudi Arabia.

As reported on the website of the stock exchange ICE the price of futures for Brent oil at 16.46 Minsk time was $ 79,32 per barrel. Wednesday, September 12, the price for the first time since may of 2018 exceeds $ 80 per barrel to $ 80,60.

In June, OPEC agreed to increase oil production under OPEC agreement+ to 1 million barrels. a day. As stated by the Minister of energy, industry and mineral resources of Saudi Arabia, Khaled al-Faleh, in fact, oil production is 600 thousand barrels. a day, because “several members of OPEC is unable to raise production”.