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Brent price dropped to a minimum in four months after the OPEC+ decision


六月, 03 2024
watermark Economic news

Benchmark oil prices dropped sharply on Monday evening. Brent crude oil fell to $78.44 per barrel, North American WTI crude fell to $74.28. 


Investors continue to evaluate the results of the OPEC+ meeting held over the weekend. The organization has extended the current production quotas for the whole of next year. Additional restrictions of 2.2 million barrels per day, which were in effect in the first half of the year, have been extended until the end of September. 


Starting in October, additional restrictions will be lifted monthly throughout the year, although this process may be suspended or canceled depending on the market situation.


Goldman Sachs analysts assessed OPEC+'s decision as negative for oil prices, while UBS and RBC Capital Markets experts remain confident in the group's ability to control the market.


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外汇本质上有高度的投机性和复杂性,可能并不适合所有投资者。 外汇交易可能会带来重大的收益或损失。 因此,建议您不要承担无法承受的损失。 在使用ForexMart提供的服务之前,请确认外汇交易相关联的风险。 必要时寻求独立的财务意见。请注意,过去的业绩和预测都不是未来结果的可靠指标。