HomeEconomyBrent prices fell to...

Brent prices fell to a 4-month low

Photo: Getty Images

Brent futures on the London ICE Futures exchange were down $2.64 (3.56%) at $78.47 a barrel.

On the evening of June 3, oil prices for standard grades began to drop sharply. This is proven by trade data.

Brent futures on the London ICE Futures exchange were down $2.64 (3.25%) at $78.47 a barrel. Brent is trading at its lowest level since early February.

WTI futures for July on the New York Mercantile Exchange (NYMEX) fell in price by $2.67 (3.47%) to $74.32 per barrel.

As you know, last weekend OPEC+ extended the current production quotas for the whole of next year. At the same time, additional restrictions of 2.2 million b/d implemented in the first half of the year were extended until the end of September, after which they were withdrawn on a monthly basis throughout the year, although the process could be terminated or cancel depending on the market situation.

According to Goldman Sachs analysts, the OPEC+ decision has a negative impact on prices. At the same time, experts from UBS and RBC Capital Markets are confident that the group will be able to maintain control over the market.

It was earlier reported that the four-week average of oil exports from Russia fell, and supplies hit a two-month low ahead of the OPEC+ meeting.

We remind you that, according to media reports, oil production outside OPEC is growing. In Canada, production will increase to 3.8 million barrels per day in 2030, 3% more than forecast.

New Correspondent.net on Telegram and WhatsApp. Subscribe to our channels Athletistic and WhatsApp

Source: korrespondent

- A word from our sponsors -

Most Popular

LEAVE A REPLY

Please enter your comment!
Please enter your name here

More from Author

- A word from our sponsors -

Read Now

Russia will help you go to the depression of swamp bombing – Reuters

The country of the aggressor will not be able to quickly replace the strategic aircraft that were lost as a result of a wide security service for websites. .in_text_content_22 {width: 300px; Height: 600px; } @Media (min-width: 600px) {.in_text_content_22 {width: 580px; Height: 400px; }} .Adsbygoogle...

Possible GTA 6 leakage reveals news in the gameplay

Some items and details about news from the new Grand Theft Auto VI game were possibly leaked on social networks; look!It will be? A new Reddit publication has created more speculation about what players can expect from 'Grand Theft Auto VI'. The game, officially postponed in early...

In Latka, the skeleton of the bend and posts (photographs) was struck

As a result of the Russian attack, the number of death in Latsk increased. .in_text_content_22 {width: 300px; Height: 600px; } @Media (min-width: 600px) {.in_text_content_22 {width: 580px; Height: 400px; }} .Adsbygoogle {Touch-Action: Manipulation; } Rescuers owed the body of a 27-year-old dead...

The Russian Federation was elected in Magatta in the void, the busy Zaes will begin

The country aggressor announced the desire to restart the occupied Zaporizhjhya NPP. .in_text_content_22 {width: 300px; Height: 600px; } @Media (min-width: 600px) {.in_text_content_22 {width: 580px; Height: 400px; }} .Adsbygoogle {Touch-Action: Manipulation; } The invaders have already contacted the IAEA so that the...

James Gunn confirms post-credit scene in ‘Superman’

With the next launch, the new creative director of the DC universe, James Gunn, confirms that 'Superman' will have scenes you creditsThe premiere of the new Steel Man movie is getting closer and closer and with it news is being released by the producers. 'Superman' will be...