Oil prices exceed $85 per barrel

Economy

14-03-2024, 21:56

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Baghdad-INA

Global markets recorded an increase in oil prices by more than 1 percent, Thursday evening, to reach $85 per barrel of Brent. This rise is the first of its kind since the beginning of November last year.

Energy experts attributed "the increase in prices to the Ukrainian attacks on Russian refineries.". For his part, Russian Deputy Energy Minister Pavel Sorokin denied “that there are any problems in continuing Russian fuel supplies,” adding, “Increasing prices will allow additional money to be earned.”.

Sorokin noted, "In 2024, Russia will slightly reduce the quantities of crude oil refining, and for this reason, it will increase the quantities of crude oil exported."