In the morning transactions, the US WTI barrel crashed 3.8% to $ 56.08, while Brent lost 3.5%, at $ 59.17
Oil prices again declined more than 3%today, following the announcement by OPEC+ a production acceleration for June, while prices are already very low.
In the morning transactions in Asia around 06:00 (Greek time), The US WTI barrel crashed 3.8% to $ 56.08, while the North Sea Brent lost $ 3.5% to $ 59.17.
On Saturday, eight OPEC+ member states announced that in June they would kill 411,000 barrels/day, that is, as in May, while the original plan only provided for 137,000 barrels.
And at a time when prices are reduced, due to fears of a world recession that could be triggered by the trade war that has begun by US President Donald Trump.
“OPEC+ threw a bomb on the oil market,” Jorge Leon of Rystad Energy had summarized at the French agency.
“After last month’s signal, the decision (on Saturday) sends a clear message: the organization is changing strategy and seeking to regain market sections after years of cuts,” the analyst had continued.
Source: Skai
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