Brent oil price per barrel is $78.35.

The barrel price of Brent oil, which rose to $ 79.68 on Friday, completed the day at $ 77.78. The barrel of Brent oil was traded at $ 78.35, an increase of 0.73 percent as of 09:25 today, compared to the closing date. In the same minutes, West Texas type (WTI) crude oil found buyers at $75.83 a barrel.
The increase in prices is due to the contraction in Libya's oil supply and the positive atmosphere created by the Organization of Petroleum Exporting Countries (OPEC) meeting. It was announced that there would be a 200,000 barrel cut in oil production for a week due to the maintenance work. Markets focused on the meeting of the OPEC+ group, which consists of OPEC and non-OPEC producer countries, to be held tomorrow. At the meeting, it will be decided whether the group will continue its planned production increase of 400 thousand barrels per day in February. Experts predict that oil prices, which rose due to the global economic recovery last year, will remain lower this year due to the rapidly spreading Omicron variant.

Despite the fact that the number of oil rigs in the US remained stable this week, consecutive increases throughout November and December indicate that the increase in production in the country continues. According to the weekly data released by the oil field services company Baker Hughes, the number of oil rigs in the country is 25-31 December period, it did not change compared to the previous week and remained at 480, but the number of oil drilling rigs in the country increased by a total of 213 in the last 1 year. Technically, the resistance of the range of 78.50 to 78.59 dollars in Brent oil is between 78.30 and 78.19 dollars. It is stated that the range can be followed as a support zone.