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Brent crude oil grows 5%, surpasses $46 per barrel

August 11, 19:52 UTC+3 MOSCOW
Oil price grows despite the International Energy Agency’s (IEA) decision to lower the global oil demand growth outlook to 1.2 mln barrels per day in 2017
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© AP Photo/Jae C. Hong

MOSCOW, August 11. /TASS/. Brent crude oil futures contract price for October delivery rose by 4.9% to $46.2 per barrel on London’s ICE in the course of the trading session on Thursday.

Thus, Brent crude oil surpassed $46 per barrel for the first time since July 22.

Oil price grows despite the International Energy Agency’s (IEA) decision to lower the global oil demand growth outlook to 1.2 mln barrels per day in 2017.

The demand growth rate will be 200,000 barrels per day lower in 2017 in comparison to this year, the IEA said.

The global oil demand is expected to be 97.5 mln barrels daily in the next year, the IEA reported.

The global oil demand forecast for this year is 96.3 mln barrels per day or 1.4 mln barrels higher than in 2015, the Agency said.

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