adjustment; Increase in infections in Europe limits increases.
Crude prices rose on Tuesday, supported by the outlook of a global inventory adjustment, although progress was limited by forecasts of a rise in world production in the coming months and concerns about the increase in Covid cases. -19 in Europe.
Brent crude futures were up 46 cents, or 0.56%, to $ 82.50 a barrel at 10:50 GMT, and U.S. WTI oil futures were up 38 cents, or 0.48%, to $ 81.28 on Monday. barrel.
"We have very low inventory levels and if we have a very cold (boreal) winter and OPEC continues to be slow to increase supplies, that could cause oil prices to advance," he explained.
Oil markets remain tight as demand returns to pre-pandemic levels, Trafigura CEO Jeremy Weir said.
However, the International Energy Agency (IEA) said on Tuesday that the rebound in prices in the market could be slowed by the strong incentive to boost production, especially in the United States.
Meanwhile, OPEC Secretary General Mohammad Barkindo said on Tuesday that he expects an oil supply surplus from early December and that the market will continue to be oversupplied next year.
The Organization of the Petroleum Exporting Countries (OPEC) last week lowered its forecast for global crude demand for the fourth quarter by 330,000 barrels per day from last month's forecast as high energy prices hampered economic recovery. of the Covid-19 pandemic.
