The price of a barrel of Brent from the North Sea, for delivery in January, lost 0.03% this Thursday morning to $72.26. Its American equivalent, a barrel of West Texas Intermediate (WTI), for delivery in December, fell 0.09% to $68.60.
The price of Brent stabilized around $72, with a “mixed dynamics, oscillating between decline and cautious optimism», Explain analysts.
This hesitation in oil prices is due to the persistence of concerns about the Chinese slowdown but also a rise in India as a new relay for oil demand, indicate reports expressing concern within the market oil tanker.
Since Donald Trump's victory in the American presidential election, black gold has suffered from the appreciation of the dollar. Since the price of oil is expressed in dollars, a stronger greenback makes it relatively more expensive for foreign buyers and decreases demand.
This slowdown in China, weighed down by sluggish consumption and a severe real estate crisis, is also weighing down demand for oil, which is strongly correlated with the economic health of the Asian giant, the world's leading importer.
The report from the International Energy Agency (IEA), published on Thursday, nevertheless revised its demand forecasts very slightly upwards for the current year. In October, the agency forecast an increase of 900,000 barrels compared to 2023, compared to 920,000 now. For 2025, demand remains unchanged.
In the report from the United States Energy Information Administration (EIA) published the day before, “India emerges as the main engine of growth in oil demand in 2024 and 2025», Note the analysts.
With AFP
