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Posted on: Thursday, June 2, 2022 – 12:21 PM | Last update: Thursday, June 2, 2022 – 12:21 PM
Oil prices recorded declines today, Thursday, amid anticipation of the scheduled meeting of the “OPEC Plus” alliance today.
The price of a barrel of Brent crude fell in early trading by $1.83 from yesterday’s level, to $114.46. The price of a barrel of US West Texas Intermediate crude also fell by $1.96 to $113.3.
Two press reports raised a lot of speculation before the regular meeting of ministers of the coalition countries.
The Financial Times reported that Saudi Arabia indicated to Western countries that it intends to expand its production if Russian production declines significantly.
And the “Wall Street Journal” newspaper had reported that a discussion was taking place to temporarily exclude Russia from the OPEC Plus production targets, in light of the strict sanctions imposed by the West on it due to its invasion of Ukraine.
In principle, it is expected that OPEC Plus will approve a slight increase in production.
