Oil prices fell today, Thursday, after a noticeable increase, which was recorded yesterday, after the decision of the OPEC+ group to cut oil production by two million barrels per day, starting next month.
By 09:27 Moscow time, futures for West Texas Intermediate crude oil fell 0.27% to $87.52 per barrel.
Meanwhile, according to data from Bloomberg, Brent oil futures fell 0.20% to $93.18 a barrel.
Oil prices ended yesterday’s trading up 1.7% for Brent blend as blend closed at $93.37 a barrel and US blend rose 1.4% to close at $87.76 per barrel.
Yesterday, the OPEC+ group agreed to cut oil production by two million barrels per day, and the decision was made amid fears of an economic downturn in the world, which will affect the demand for crude oil.
Source: RT + Bloomberg