Oil prices fell because sources said OPEC+ would consider accelerating the increase in crude oil production.
Several OPEC+ members will propose that the group accelerates the increases in production of oil in June For the second consecutive month, three sources familiar with the conversations of the organization told Reuters, in the midst of a growing dispute between the members for the fulfillment of the production quotas.
In that framework, the futures of crude Brent U $ S1,32 fell, or 2%, Au $ S66.12, while the crude West Texas Intermediate of the United States lost US $ 1,40, or 2.2%, AU $ S62.27.
Oil dollars
Arek
Failure to comply with OPEC+ quotas
Recently there were tensions among OPEC+ members for the fulfillment of production fees.
“I would not be surprised that OPEC wants to increase production. It could generate concern about the cartel cohesion. They may be tired of stopping production increases,” said Phil Flynn, an analyst at Price Futures Group.
The news about commercial tariffs helped stop some prices falls. The Trump government would consider reducing levies on imports of Chinese products waiting for conversations with Beijing, a source familiar with the matter said on Wednesday, adding that no measure would be taken unilaterally.
It is likely that China tariffs are reduced to between 50% and 65%, according to a report by the Wall Street Journal, who cites a White House official.
The United States Secretary of the Treasury, Scott Besent, said he believes that tariffs excessively Almost between the two largest economies in the world must be reduced before trade negotiations can continue.
Source: Ambito
I am a 24-year-old writer and journalist who has been working in the news industry for the past two years. I write primarily about market news, so if you’re looking for insights into what’s going on in the stock market or economic indicators, you’ve come to the right place. I also dabble in writing articles on lifestyle trends and pop culture news.
