Oil prices continued to decline today, Thursday, November 23, amid the postponement of the OPEC+ meeting.
Oil prices expanded their losses recorded yesterday, Wednesday, in the wake of OPEC+’s decision to postpone the ministerial meeting to November 30, a meeting that is expected to witness discussions about production cuts.
Sources told Reuters that producers are struggling to agree on production levels and then possible cuts ahead of the meeting, which was scheduled for November 26.
However, three sources told Reuters that the matter is related to African countries, which are among the small producers in the group, which contributed to reducing investors’ fears.
In terms of trading, Brent crude futures fell by about 0.74% to $81.35 per barrel.
US crude contracts also decreased by 0.62% at $76.61 per barrel.
Trading is expected to remain calm in light of the Thanksgiving holiday in America.
