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Due to the resumption of non-energy sanctions by the United States against Iran, the world's fifth-largest oil producer, and the decline in Saudi crude oil production, oil prices continued to recover
slightly in the international crude oil market on the 7th.
As of 19:44 Beijing time on the same day, the New York Mercantile Exchange U.
S.
WTI crude oil futures for September were at $69.
72 per barrel, up 1.
03%; October Brent crude futures on the Intercontinental Exchange in London were trading at $74.
83 a barrel, up 1.
46%.
In May, the price of Brent crude oil briefly hit $80 a barrel and has not reached that height
since.
After more than a year of curbs, OPEC and its production ally Russia agreed to start increasing production this month by up to 1 million barrels
per day, amid concerns about cuts in crude production in several countries, including Iran and Venezuela.
U.
S.
sanctions on Iran's non-energy sector went into effect on August 6, and in November, the U.
S.
asked all countries to reduce their oil imports to zero, at which time the United States will resume comprehensive sanctions on Iran and does not intend to provide any exemptions or extensions
on oil imports.
12Next View full article
Due to the resumption of non-energy sanctions by the United States against Iran, the world's fifth-largest oil producer, and the decline in Saudi crude oil production, oil prices continued to recover
slightly in the international crude oil market on the 7th.
As of 19:44 Beijing time on the same day, the New York Mercantile Exchange U.
S.
WTI crude oil futures for September were at $69.
72 per barrel, up 1.
03%; October Brent crude futures on the Intercontinental Exchange in London were trading at $74.
83 a barrel, up 1.
46%.
In May, the price of Brent crude oil briefly hit $80 a barrel and has not reached that height
since.
After more than a year of curbs, OPEC and its production ally Russia agreed to start increasing production this month by up to 1 million barrels
per day, amid concerns about cuts in crude production in several countries, including Iran and Venezuela.
U.
S.
sanctions on Iran's non-energy sector went into effect on August 6, and in November, the U.
S.
asked all countries to reduce their oil imports to zero, at which time the United States will resume comprehensive sanctions on Iran and does not intend to provide any exemptions or extensions
on oil imports.
12Next View full article
12Next View full article
