Brent crude slips below $63, WTI under $60

02/03/2021 Argaam

Oil prices declined on Tuesday, ahead of OPEC+ meeting during which a decision to ease production cuts is expected.

 

Oil prices may stay under pressure as investors are making position adjustments ahead of the OPEC meeting, Reuters reported, citing Hiroyuki Kikukawa, general manager of research at Nissan Securities.

 

International benchmark Brent crude was trading down 1.3% at $62.85 per barrel, at 9 am Makkah time.

 

West Texas Intermediate (WTI) crude fell 1.3% to $59.85 per barrel.

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