Maximum monthly oil price

21.04.2021

World oil prices rose to their highest values in a month, according to data from trading on the London ICE exchange. On Tuesday, April 20, the benchmark Brent rose to $67.77 per barrel (as of 09:30 Moscow time), and the cost of July WTI futures rose to $64.06 per barrel.

Prices are rising against the background of the next OPEC+ meeting, which may take place on April 28. As it became known earlier, the possibility of holding only a meeting of the monitoring committee, without a general meeting of the organization, is being discussed. Three delegates said they did not expect any changes in the planned increase in oil production.

On this day a year ago, the world market faced an unprecedented crisis. During the evening trading session on April 20, 2020, the price of May WTI crude oil futures fell below zero for the first time in history and reached minus $40 per barrel. In May, with the entry into force of the new OPEC+ agreement and the recovery of demand from China to an almost pre-crisis level, the situation on the oil market began to change in a positive direction.