Following the “OPEC +” group’s decision to limit its oil production by two million barrels per day, beginning next month, oil prices dipped today, Thursday, following a notable spike that was observed yesterday.
US crude futures “West Texas Intermediate” dropped 0. 27% to $87. 52 a barrel by 09:27 Moscow time.
According to Bloomberg statistics, the price of Brent crude futures dropped by 0. 20% to $93. 18 per barrel.
Yesterday’s trading saw an increase of 1 in the price of oil.
It increased by 1. 4% for the American blend, which concluded trading at 87. 76 dollars a barrel, and by 7. % for the “Brent” mix, which closed at 93. 37 dollars a barrel.
The “OPEC +” group decided to cut its oil production by two million barrels per day yesterday due to concerns that there will be a global economic downturn that will damage the demand for crude.
Source: Bloomberg and RT.
Oil prices are falling.
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