Oil prices vary in anticipation of the “OPEC Plus” meeting the scientist

Crude oil prices varied in the morning trading on Monday, in anticipation of the meeting of the technical and ministerial committees of the “OPEC Plus” alliance to monitor the reduction of oil production, in conjunction with the return of the outbreak of the Corona virus with a greater acceleration than the past months.

And on Wednesday, the alliance holds its meeting, while uncertainty prevails about the future of global oil demand, with HIV infections accelerating, despite the acceleration of vaccinations.

And at (06:15 GMT), the price of Brent crude futures for November delivery rose 0.11% to $ 71.76 a barrel.

While the prices of US West Texas Intermediate crude futures for October delivery fell 0.55% to $68.41 a barrel.

And yesterday, Sunday, Kuwaiti Oil Minister Muhammad Al-Faris said that all options regarding reducing oil production will be presented and discussed at the OPEC Plus meeting on Wednesday, to adopt the best and most appropriate decisions unanimously for the benefit of the oil market.

The minister added, in statements carried by the news agency KUNA, that Kuwait always supports any collective decision taken by OPEC Plus, which is by consensus of all.

And OPEC Plus announced – last July – an agreement to ease production restrictions by 400,000 barrels per day, starting from this August, to settle the reduction at 5.4 million barrels per day.

According to the agreement, production restrictions will be eased by 400,000 barrels per day each month, up to zero barrels of production cuts by September 2022.


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