Oil prices reach $77.4, amid fears of low supply

Oil prices recovered to touch their highest level in 3 years against the backdrop of low supply and a shortage of energy globally, especially natural gas, to meet the increasing demand for it, which makes resorting to Brent crude in power generation highly likely.

A barrel of Brent crude for November delivery recorded $77.4, while West Texas Intermediate crude for delivery in the same month recorded $73.32 a barrel.

And the US Energy Information Administration announced that US crude stocks fell for the 17th consecutive week, at a rate greater than expected at 3.5 million barrels, to record 414 million barrels, the lowest level since October 2018.


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About AISU

Arab Iron and Steel Union ( AISU ) was established in Algeria in 1971 as the first Arab union of Arab countries to be established under the umbrella of the Council of Economic Unity in the League of Arab States.

AISU is a non-governmental organization of a private nature, not of a political or commercial nature.

AISU works in the field of preparing studies, organizing courses and holding periodic conferences for the prosperity of the Arab iron and steel industry. The union includes a wide range of companies with multiple activities related to the iron and steel industry.

Information About Union

92 Members

28 Board of Directors

17 Country

300.000 Employees

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