MOSCOW (Sputnik) – Global oil prices are falling by 5% on Monday, with Brent crude dropping below $70 per barrel for the first time since 1 June.
As of 14:09 GMT, the price of September futures for Brent crude oil fell by 4.62% to $70.19 per barrel, sinking below $70 per barrel minutes earlier. September futures for WTI crude fell by 5.04% to $67.95 per barrel, while August futures for WTI were down 4.94% to 68.26 per barrel.
The main event for the oil market in recent days was the OPEC+ decision on the production cuts deal. The alliance on Sunday agreed to extend the agreement on limiting oil production for the period from May 2022 to the end of the year and, starting in August 2021, to increase production by 400,000 barrels per day each next month. In addition, it was agreed to increase the base of oil production cuts from May 2022 for Russia, Saudi Arabia, UAE, Iraq and Kuwait.
Sourse: sputniknews.com
0.00 (0%) 0 votes
MOSCOW (Sputnik) - The Coalition for the Restoration of Democracy (CORED), which unites 18 opposition parties in Guinea, said on…
The news of an interplanetary scale comes after NASA believed it had captured its first sample with Perseverance last month,…
MOSCOW (Sputnik) - The last pipe of the second string of Nord Stream 2 has been welded, and after a…
LONDON (Sputnik) – The UK government on Monday condemned the military coup against the president of Guinea, Alpha Conde, and…