Oil prices stabilized during trading today, Monday, amid anticipation of the (OPEC +) decision regarding production levels, as member states decided to postpone the announcement until this week due to a split in opinions. .
The coalition, which includes member states of (OPEC) and oil producers outside it, announced the postponement of the eighteenth ministerial meeting of the (OPEC +) alliance on Friday and held it on Monday instead.
Press reports indicated that the coalition is considering increasing oil production by 400,000 barrels per day, starting from August until next December.
In terms of trading, the futures contracts for the benchmark Brent crude for September delivery settled at $76.23 a barrel.
The US Nymex crude contracts for August delivery settled today at $75.20 a barrel.
Baker Hughes data at the end of last week showed the addition of five oil drilling platforms in the United States in the week ending on July 2, reaching 475 platforms, which is the highest Level since April 2020.
