After seven years, the world’s highest crude oil price has been recorded today.
According to foreign media reports, this is due to the current crisis in Russia and Ukraine.
Accordingly, due to the possibility of imposing economic sanctions by the United States and European countries, it is also reported that there is a possibility of disruption to the oil supply.
Brent crude rose by $ 1.12 (1.2%) to $ 95.56 a barrel, the highest level since October 2014.
Meanwhile, US West Texas Intermediate (WTI) crude rose by $1.28 (1.4%) to $ 94.94 a barrel, the highest price level since September 2014.
OPEC and its affiliate countries are currently struggling to produce enough crude oil to meet global demand.
These countries have stated that they hope to produce 400,000 barrels of crude oil per day by March, but the reports say that target will not be met.
Meanwhile, the International Energy Agency says there is a shortfall of 900,000 barrels a day between the supply and demand of OPEC and its affiliate countries, which has also contributed to the rise in crude oil prices.
