Crude prices record highs in the middle of the trading session today, Monday, the opening session of the week, and before the opening of the American markets, where crude rises by more than 4%, compensating for a large part of the loss on Friday, the last sessions of the last week, which exceeded 10% at closing in the largest daily decline in the current year and since April 2020 Specifically, after a state of panic in the markets that the new Corona mutator would affect the levels of global demand for oil.

With the beginning of the week’s trading today, Monday, the markets calmed a little, with crude regaining more than 40% of its recent loss, as Brent crude is trading at a level of $75.99 a barrel, an increase of about 4.50%, while the American crude (NYMEX) is trading up by about 5.08%, and it is trading at levels of $71.61 a barrel.

. The meeting of the Ministerial or Technical Monitoring Committee of the Organization of the Petroleum Exporting Countries and the independent producing allies outside the organization, led by Russia in the system known as OPEC +, was scheduled to meet tomorrow, Tuesday, November 30, before it announced the postponement of the technical meeting to the second Thursday of December, so that it could assess the situation in a better way.

It is correct about the effect of the omicron axis on the global demand for oil, provided that the OPEC Ministerial Committee will hold its meeting on the same day to announce the production policy. Some reports had indicated that OPEC + had changed its production policy for the coming period with the possible repercussions of the new variable and the closures of countries, to confirm the Russian Deputy Prime Minister Alexander Novak that there is no need to take urgent measures and that the OPEC + partners did not ask to renegotiate the current agreement because of Omicron