Oil prices rose slightly during trading on Wednesday, after recording monthly gains during May, with the expectation of the OPEC + meeting to be held tomorrow, with expectations of compliance with the production agreement.
Brent crude futures for August delivery recorded an increase of 0.34% at the level of $115.99 a barrel, while US crude futures settled at $114.74 a barrel.
Oil prices rose yesterday, backed by the latest round of EU sanctions that will ban the purchase of Russian oil delivered by sea, but include a temporary exemption for pipelines.
As for China, the strict lockdown related to the Covid-19 virus ended in Shanghai yesterday, after it lasted for two months, boosting expectations of increased demand for fuel in the country.
The monthly report of the US Energy Information Administration released this week showed that US crude oil production in March rose by more than 3% to its highest level since November.
