Oil is traded at price close to $69 per barrel today, as pressure on the market related to supply constraints eased after US drilling rose to the highest level since 2015, Bloomberg reports. Besides, it became known that output in Libya may grow in the beginning of next year.

Futures in New York are relatively stable today after they lost 3,1% last week. Quantity of oil rigs in the US grew last week to 873. In Libya, BP Plc and Eni SpA may resume project, which will allow this OPEC member raising output.

Oil price lost almost 10% after it reached the highest level in four years amid worsening demand outlook and general slump at stock market. Further price growth is possible in case of rising tensions in relations between the US and Saudi Arabia as well as after US sanctions against Iran will be imposed in November.

WTI oil price with November delivery is $69,31 per barrel. Brent oil with December delivery is traded for $79,87 per barrel.