Oil prices slid ahead of the Joint Ministerial Monitoring Committee (JMCC) meeting of the OPEC and allies to review the previously agreed oil output cuts deal on Wednesday.

 

Brent crude futures fell 38 cents, or 0.8%, to $45.08 a barrel, while US West Texas Intermediate (WTI) crude futures was down 25 cents, or 0.6%, at $42.64 a barrel.

 

This month, OPEC and allies reduced their agreed cuts to 7.7 million barrels per day (bpd) from 9.7 million bpd previously.

 

Compliance with OPEC+ oil output cuts was seen at around 97% in July, according to a Reuters report.

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

Related News

IEA lowers global oil demand amid COVID-19, slowdown in aviation
Russia's energy minister says no proposal to amend OPEC+ agreement
OPEC expects global oil demand to fall by 9.1 million bpd in 2020

Popular Links

Quick Links

Join Us

Argaam.com Copyright © 2024, Argaam Investment, All Rights Reserved
Call Request