Oil prices are rallying today. The current market situation looks as follows:
The price of the Brent futures for May delivery in London (ICE Futures) is up by 1.08%. Therefore, the current price of Brent oil is $110.14/b.
At the same time, the price of the WTI futures for May delivery is up by 0.62%. One barrel of WTI oil costs $93.61.
Oil Movements has recently made a forecast: The OPEC is expected to increase its oil production by 300K barrels a day up to 23,75 million barrels a day.
The chart below, courtesy of , reflects the current state of affairs in the market of WTI oil:
