World oil prices
At 6:00 a.m. on December 2, the price of WTI oil decreased by 0.72 USD, equivalent to 1.05%, to 68 USD/barrel. The price of Brent oil decreased by 0.94 USD, equivalent to 1.29%, to 71.84 USD/barrel.
Oil prices fell as they await news on output from the Organization of the Petroleum Exporting Countries and its allies (OPEC+), scheduled to meet on December 5. After postponing output increases twice, OPEC+ may be considering price risks due to concerns about rising supply.
After two production hikes, OPEC+ must consider the risk of further weakness in oil prices as output from non-OPEC+ producers could lead to a crude surplus next year, said analyst Ole Hansen from Saxo Bank.
In its monthly report, OPEC said that global oil demand will increase by 1.82 million barrels per day in 2024. In addition, OPEC also lowered its forecast for global oil demand growth in 2025 to 1.54 million barrels per day.
Oil prices decline. (Photo: Fox Business).
Analysts also forecast WTI oil prices to average $70.69 per barrel in 2025.
This week, the market will pay attention to data on weekly jobless claims, non -farm payrolls report, manufacturing and service sector purchasing managers index (PMI), and preliminary consumer sentiment index of the University of Michigan, USA.
Domestic gasoline prices
In the operating period on November 28, the price of E5 RON92 gasoline increased by 497 VND/liter, not higher than 19,840 VND/liter. RON95 gasoline increased by 329 VND/liter, not higher than 20,857 VND/liter.
Diesel price increased by VND268/liter, not higher than VND18,777/liter. Kerosene increased by VND221/liter, not higher than VND19,142/liter and fuel oil price increased by VND111/kg, to VND16,125/kg.
In this management period, the Ministry of Industry and Trade - Ministry of Finance continued not to set aside or use the petrol price stabilization fund for any products.
Source: https://vtcnews.vn/gasoline-price-today-2-12-cho-doi-tin-hieu-moi-cua-opec-dau-giam-gia-ar910828.html
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