The markets have reacted nervous to the declared increase in OPEC countries’ oil production, which has been a record for five years.
Oil prices in the world have intensified the news about changing OPEC+ countries’ plans and psychological levels of $ 70 per barrel. It became known on Thursday, April 3.
Thus, eight countries participating in the agreement have decided to speed up the removal of 2.2 million barrels previously accepted for Doba’s production restrictions and increase production from May 411 thousand barrels in Dobu, which equates to three monthly increases, OPEC said.
According to western agencies, this is an increase in oil production record in five years.
As a result, June Futures in various Brents in the Ice Futures London Exchange fell to $ 69.64 per barrel, which was $ 5.31 (7.08%) below the level of closing of the previous session.
WTI oil futures in May at the New York Commodity Exchange (NYMEX) electronic auction were reduced by the price of $ 5.54 (7.73%), up to $ 66.17 per barrel.
Investors are also continuing to review data on US reserves and new import duties declared by American President Donald Trump.
The markets in the world’s stock of the world negatively react to Trump’s duties
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Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.