The oil price intermediate of Texas (WTI) fell 4.6% this Thursday, to $81.64 a barrel, reaching its lowest level since the end of September, when China’s zero-covid policy – the main importer of crude oil – continues to dampen the prospects of the demand.
Upon completion of operations in the New York Mercantile Exchange (Nymex)WTI futures contracts for December delivery were down $3.95 from the previous day’s close.
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Benchmark US oil is having a rough week after OPEC oil-producing countries on Monday revised down by 200,000 barrels a day their forecast for global crude consumption through the end of 2023 on economic woes caused by the russian invasion of Ukraine and the lockdowns due to the pandemic in China.
It is recalled that in the case of the Dominican Republic, the authorities maintain a subsidy on fuel prices as long as these exceed US$85 per barrel in the international cost and do not exceed US$115 per barrel.
