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The decline in oil prices, the result of gains due to the commitment of OPEC Plus production cuts

2020-08-18T09:02:12.142Z


Tokyo-SANA Oil prices today maintained most of last night's gains after the OPEC Plus group said the higherTokyo-Sana Oil prices today maintained most of last night's gains after the OPEC Plus group said that members had almost fully committed to the agreed production cuts to support prices amid a decline in fuel demand due to the Coronavirus pandemic. Reuters reported that Brent crude was down 18 cents, or 0.4 percent, to $ 45.19 a barrel, after rising 1.3 percent yesterday. US crude fell 26 cents,...


Tokyo-Sana

Oil prices today maintained most of last night's gains after the OPEC Plus group said that members had almost fully committed to the agreed production cuts to support prices amid a decline in fuel demand due to the Coronavirus pandemic.

Reuters reported that Brent crude was down 18 cents, or 0.4 percent, to $ 45.19 a barrel, after rising 1.3 percent yesterday.

US crude fell 26 cents, or 0.6 percent, to record $ 42.63 a barrel, after rising by 2.1 percent in the previous session.

In August, the Organization of the Petroleum Exporting Countries (OPEC) and its allies in what is known as the OPEC Plus group began to reduce the agreed production cuts to 7.7 million barrels per day from 9.7 million barrels per day.

Source: sena

All business articles on 2020-08-18

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