WTI price corrects after reaching a four-month high of $82.46 marked on Monday. Russia has increased its exports in reaction to Ukrainian attacks on the nation's oil infrastructure. Saudi Aramco CEO Amin Nasser rejected the idea of phasing out fossil fuels, describing it as a fantasy. West Texas Intermediate oil price slightly retreats to near $81.80 per barrel during European trading hours on Tuesday.
3 million barrels per day in the coming months to offset exceeding its OPEC+ quota since January. Additionally, Saudi Arabia's Crude exports have decreased for the second consecutive month, dropping to 6.297 million bpd in January compared to 6.308 million bpd in December. Saudi Aramco CEO Amin Nasser stated on Monday that global oil demand is not expected to peak for some time.