Oil Price January 2024. Oil prices are likely to remain around current levels this year. Wti futures traded at $70.56 per barrel (bbl), as of 9 a.m.
Oil rallied to the highest price in two months after a fuel tanker was struck near yemen, underscoring the geopolitical risks to crude supplies. As reported by cnbc, for the initial three months of 2024, saudi arabia is prolonging its voluntary production cut of 1 million barrels per day, initiated last july,.