Crude prices are recording strong declines with the beginning of the opening of the American markets, after OPEC + officially maintained, moments before, its production policy, which stipulates an increase in production by about 400 thousand barrels per day in January, while keeping its meetings open to follow the developments of the Omicron mutator and its impact on crude prices and to make a decision whenever It takes it.

OPEC + clarified that the compensation period has been extended until the end of June of next year, as required by some countries that have least implemented the agreement.

Crude prices had been subjected to many fluctuations since the beginning of the European session, after statements from sources varied before the final outcome of the OPEC + meeting came out. Some sources indicated that OPEC + will adhere to its current plan to increase production by 400,000 barrels per day in January, as previously specified, while other sources indicated That the organization and its independent allies will stop the increase in production temporarily or will decide to increase production by only 200,000 barrels per day in January.

It is worth noting that the data of the US Energy Information Administration in the official reading of stocks released yesterday, Wednesday, showed a decline in stocks by about 900 thousand barrels in the last week ending on the 26th of November, while expectations indicated a decline of about 2.7 million barrels, and in details, gasoline stocks rose by about 4 million barrels. Also, stocks of distillates, which include heating fuel and diesel, rose by about 2.2 million barrels.

Brent crude is trading at levels of $68.20 a barrel, down by about 0.97%, after testing levels of $65.75 moments ago, to trade at its lowest level since last August, while US crude (NYMEX) is trading down about 2% at levels of $64.25 a barrel.