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Brent oil price rises to $49 per barrel, March futures trade at over $50

January 15, 2015, 16:23 UTC+3 LONDON
Oil prices were supported by the OPEC January outlook, which raised the world oil cartel’s estimate of global demand for oil in 2015 to 92.3 million barrels per day
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© AP Photo/Hasan Jamali, File

LONDON, January 15. /TASS/. The price of Brent futures for February delivery grew by 0.7% on the Intercontinental Exchange (ICE) in London on Thursday to $49.07 per barrel.

Brent February futures are trading the last day before their expiry while futures for March delivery will start actively trading from Friday. The price of Brent futures for March delivery edged up by 0.38% to $50.05 per barrel.

Oil prices showed an upward correction on Wednesday when Brent went up by almost 5% to $48.89 per barrel, after which it started to fall again.

Oil prices were also supported by the OPEC January outlook, which raised the world oil cartel’s estimate of global demand for oil in 2015 to 92.3 million barrels per day from 92.26 million barrels per day.

At the same time, OPEC experts lowered the oil cartel’s outlook for OPEC oil demand by 100,000 bpd to 28.8 million bpd.

The ruble showed a rebound on the Moscow Exchange amid rising world oil prices.

Infographics Oil prices over 30 years Oil prices over 30 years
Year-average inflation-adjusted oil price. Infographics by TASS

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