International oil prices continued their decline on Tuesday, in conjunction with the anticipation of the OPEC + meeting scheduled for next Thursday; to discuss supply policy for May, amid signs that the group will stick to its current plan and approve another modest increase in production.
The decline in oil also came today, after crude prices recorded the largest daily loss in about three weeks, due to fears that the spread of the emerging Corona virus (Covid-19) may affect On global demand.
These concerns come as China - the world's largest importer of crude - faces the worst outbreak of the epidemic since it appeared in Wuhan more than two years ago, which is testing the effectiveness of the epidemic. Strict state policy to combat the virus.
Oil prices are still heading towards recording monthly gains after the turmoil in global markets due to the Russian invasion of Ukraine.
In terms of today's trading, Brent crude futures for May delivery fell 0.45%, or 51 cents, to $111.97 a barrel.
Also, US crude futures fell today by 0.36%, or 53 cents, at the level of $105.43 a barrel, after falling 7% yesterday.
