Brent oil futures for delivery in September on Friday morning during trading fell to $ 75.69 per barrel.
Kyiv. Ukraine. Ukraine Gate – July 2, 2021 – Economy
According to Bloomberg as of 8:30, the price of futures for Brent oil fell by 0.20%.
At the same time, the price of August futures for WTI oil fell to $ 75.16 per barrel, losing 0.09%.
Oil prices remained stable on Friday after OPEC + ministers postponed production policy meetings as the United Arab Emirates abandoned a plan to increase production by 2 million barrels per day in the second half of the year, according to Reuters.
Both oil brands showed significant price increases on Thursday, as a plan backed by Saudi Arabia and Russia for OPEC and allies, collectively known as OPEC +, to add 400,000 barrels per day each month from August to December 2021 was more cautious than expected investors.
OPEC + has postponed a ministerial meeting until Friday to resume talks on oil policy.
Moscow and Riyadh have also proposed extending the cuts until the end of 2022 to avoid a new oversaturation next year.
In response to the decline in oil demand caused by the coronary crisis, OPEC + last year agreed to cut production by almost 10 million barrels per day from May 2020 with plans to phase out restrictions by the end of April 2022. The reduction is now about 5.8 million barrels per day.
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Source: Ukrgate
