Oil prices fell during Thursday's trading in anticipation of the release of the OPEC monthly production report later today, and with reports spreading about the end of differences between OPEC + members.
It seems that OPEC and allies will soon have a plan to increase production, and that news is welcome in the news,' said Edward Moya, chief market analyst at forex trading company OANDA. The demand for crude remained high.
Yesterday, Wednesday, sources confirmed to Reuters that the dispute between Saudi Arabia and the UAE over production levels has ended.
In terms of today's trading, the futures contracts for the benchmark Brent crude for September delivery fell by 0.9% to $74.11 a barrel.
The US NYMEX crude contracts for August delivery also decreased by 1% at the level of $72.38 a barrel.
