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There is a moderate decline in global oil prices on Thursday morning, Trend reports.
Investors’ attention is focused on news related to possible oil supplies from Venezuela in light of ongoing negotiations on easing sanctions measures.
The price of October Brent crude futures was slightly down 0.25 percent at $83 per barrel, while October WTI futures were also slightly down 0.34 percent at $78.62.
Prospects for supplies from Venezuela are putting some pressure on oil prices. Insider sources report that the United States is in the process of negotiations with the Venezuelan authorities regarding the possibility of temporary easing of sanctions measures.
One of the main factors affecting oil markets remains the supply and demand outlook. On one side are concerns about the state of the Chinese economy, as China is a major oil consumer, which has a dampening effect on the demand outlook. On the other hand, the efforts of OPEC+ countries to reduce oil production continue to keep quotations stable.
