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Oil prices continue to decline ahead of the OPEC Plus meeting next Sunday
- Time: 05/31/2024 08:30:24
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{Economic: Al-Furat News} Oil prices witnessed a decline early on Friday with fears of increased supply before the OPEC+ meeting on the supply situation next Sunday.
Brent crude futures fell 12 cents to $81.74 a barrel, while US West Texas Intermediate crude fell 17 cents to $77.74.
The OPEC+ alliance is expected to extend production cuts, with some restrictions likely to continue until 2025.
The alliance will also review members' production capacity levels. The UAE, Kazakhstan, Iraq, Kuwait and Algeria are among the countries whose ability to increase production next year will be scrutinized, according to people familiar with the discussions.
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{Economic: Al-Furat News} Oil prices witnessed a decline early on Friday with fears of increased supply before the OPEC+ meeting on the supply situation next Sunday.
Brent crude futures fell 12 cents to $81.74 a barrel, while US West Texas Intermediate crude fell 17 cents to $77.74.
The OPEC+ alliance is expected to extend production cuts, with some restrictions likely to continue until 2025.
The alliance will also review members' production capacity levels. The UAE, Kazakhstan, Iraq, Kuwait and Algeria are among the countries whose ability to increase production next year will be scrutinized, according to people familiar with the discussions.
[You must be registered and logged in to see this link.]
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