Earlier, the OPEC+ group finalized a deal to draw down global oil production, cutting output by 10 million barrels per day, effective from 1 May.

According to market data, Brent crude oil prices increased by 1-3%, before the benchmark, combined with WTI prices, started falling again. As of 1:07 a.m. Moscow time, the price of June futures for Brent crude oil had fallen by 0.66%, to $31.61 per barrel.

The price of May futures for WTI crude fell by 1.81%, to $22.79 per barrel. 

Minutes earlier, oil prices had demonstrated 1-3 percent modest growth at the Monday opening, according to market data.

This comes after the OPEC+ oil producers agreed to cut output by 10 million barrels a day during an online meeting on Sunday.

Sourse: sputniknews.com

Oil Prices Show Moderate Growth Before Dropping After OPEC+ Production Cut Deal

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