Russia's oil supply increased and international oil prices fell on the 27th

As the market news showed that Russia's oil supply increased, the international crude oil futures price rose in the overnight market, significantly lower in the morning of the 27th, narrow consolidation in the afternoon, and the international oil price fell at the end of the day.

As of the close of the day, the price of light crude oil futures for delivery in March 2023 on the New York Mercantile Exchange fell 1.33 US dollars to close at 79.68 US dollars per barrel, or 1.64%. The price of London Brent crude oil futures for delivery in March 2023 fell by US $0.81 to close at US $86.66 per barrel, or 0.93%.

It is reported that due to strong demand in Asia and higher energy prices, the oil loading volume at the Baltic ports in Russia is expected to increase by 50% month-on-month in January.

The report released by UBS Group on the 27th said that the oil price seemed to have reached a turning point. With the recovery of global demand and further restrictions on Russian oil exports, Brent oil price is expected to rise above US $100 per barrel in the coming months.

The data released by Baker Hughes, an oil field service company, on the afternoon of the 27th showed that the number of active oil rigs in the United States this week was 609, down 4 month-on-month and up 114 year-on-year. During the same period, the number of active oil rigs in Canada was 157, up 4 month-on-month and 22 year-on-year. 

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