Marked in particular by tensions between Ukraine and Russia and by increasing demand while supply remains limited, the price of oil has reached its highest level on Monday, January 31, 2022 since 2014.
Brent of the North Sea barrel costs $ 91.23, $ 1.20 more than Friday, January 28. The barrel of American oil WTI increased by $ 1.07 to cost $ 87.89. Oil has never been so expensive since 2014.
It is in this context that the OPEC+ cartel must meet on Wednesday, February 2 to discuss a new increase in oil production, when prices are at the highest in seven years.
A meeting intended to make possible adjustments. Analysts also expect a new increase in the total production volume of 400,000 barrels per day.
After the fears aroused at the end of 2021 by the variant Omicron, the market is now focused on the strong geopolitical tensions which involve Russia (with Ukraine), Saudi Arabia and the United Arab Emirates (in their fight against Houthis).
