Crude oil prices fall lower, oil traders focus on OPEC meeting
Brent Crude lost about 0.62% to trade at $42.94 a barrel, at 6.05 am Nigerian time.
Brent Crude lost about 0.62% to trade at $42.94 a barrel, at 6.05 am Nigerian time.
OPEC is hoping Shale Oil loses steam and goes on the wane.
Crude oil production of OPEC+ members for June reduced by almost 2 million barrels.
Brent crude was slightly up by 0.04% to trade at $43.23 at 5:42 am local time on Thursday.
OPEC+ is lowering output by 9.7 million barrels per day (bpd) for a third month in July.
Brent crude is the leading global benchmark for Atlantic basin crude oils.
Production cuts from OPEC countries and other allies have helped to revive the price of Brent Crude.
They talked on “ways of cooperation to enhance the stability “ of the Crude market.
It is evident that the world can no longer rely on Oil for the sake of the world's health.
OPEC has been regarded as a cartel and has acted as a cartel of late.
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