Yesterday, the Barrel Prize for Brent oil was completed at up to $ 64,56, which completed the day at a level of $ 63.63. The Barrel Prize from Brent Oil, today at 08.50 a.m., decreased by about $ 63.60. At the same time, the West Texas type (WTI) found buyers for $ 60.68 crude oil.
The oil prices, the Opec+ Group, can increase the level of production after the news has decreased on Friday and have continued weekly losses. This development has produced the excess concerns of the supply.
The Opec+ Group, which consists of the Opece of Oil export countries (OPEC) and Russian allies, is expected to evaluate the increase in production at the meeting on June 1st. The scenarios surveyed include an additional 411 thousand barrel daily in July.
Experts if the increase in production in question clearly passes the group to the directive in order to protect the market share from defense prices.
The Opec+ Group gradually gradually reduced the production cuts in May and June. The next Opec+ meeting will probably be decisive in terms of global oil offers and prices.
At the same time, the data from the US Energy Information Administration (EIA) rose by 1 million 300,000 barrels in the country last week. This development further deepened the excess concerns and supported the decline in prices by promoting the demand.
On the other hand, investors focused on the results of the nuclear negotiations of the 5th round between Iran and the United States, which will begin in Rome today. In the negotiations of the mediation of Oman, the Iranian uranium enrichment activities are still the basic dispute.
While the United States demands that Iran have completely stopped its enrichment activities, Tehran insists on the right to enrich the uranium for peaceful purposes. In the event of progress in negotiations or relieved US sanctions, Iran will increase oil exports and that an excessive offer will occur in global markets.
Brent oil technically speaking 66.77 dollars, resistance, $ 60.16 can be monitored as a retaining zone.
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