Oil fell in price based on news about rising stocks in Cushing


Data analytics company Genscape reported that, according to its estimates, stocks in Cushing over the past week rose by 630,000 barrels. According to Bloomberg, this information on Monday towards evening unexpectedly turned oil prices to a decline after rising during the day. By 18:45 Moscow time on Monday, Brent crude fell 22 cents to 60 dollars 6 cents a barrel. The price of WTI crude oil fell by 68 cents to 50 dollars 52 cents per barrel. Some investors believe that the implementation of the OPEC + agreement to reduce production next year will not fully eliminate the expected imbalance of supply and demand in the global oil market.

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