Future oil contracts are receding almost 1% on Friday, pressing on the expectations that OPEC+ producers will decide this weekend to increase their production and Iran’s reassurance for non -dissemination of nuclear weapons.

Slow Brent deals at $ 68.20 a barrel with 0.87% to 15:50, while West Texas Intermediate US oil is $ 66.39 a barrel, losing 0.91%.

The eight OPEC+ countries are likely to make another increase in oil production in August, a decision to be taken at a meeting on Saturday as part of their attempt to increase market share, the Reuters news agency notes.

“If the team decides to increase its production by another 411,000 barrels per day (BPD) in August, as expected, for a fourth consecutive month, estimates for the oil balance for the second half of the year will be reassessed and indicated by accelerating tams.” Varga.

Arrgos prices were also pressured by a report by the American news website Axios, according to which the United States planning to repeat nuclear talks with Iran next week, while Iranian Foreign Minister Abas Araktzi said that Tetheran said.

Meanwhile, Barclays increased its prediction for the price of Brent oil by $ 6 to $ 72 a barrel for $ 2025 and by $ 10 to $ 70 a barrel for 2026, due to improved prospects in demand.