Oil is under pressure

Oil prices are falling against the background of the results of the meeting of the monitoring meeting of the OPEC + committee. Following the meeting, OPEC + was informed that oil reserves in the countries of cooperation and development (OECD) in March amounted to 2.83 billion barrels, which exceeds the level of reserves before the collapse of the oil market.

Also, pressure on oil quotes was made by US President Donald Trump’s claims that oil prices are artificially inflated, and very heavily, given the record volumes of oil and the fully loaded seaside vessels.

At the moment, WTI crude oil is traded at $ 67.70, losing about -0.86% in price.

Brent crude oil is traded at around $ 73.05, losing about-0.99% in price.

Alexander Sivtsov