The price of oil fell below $ 68

Цена на нефть упала ниже 68 долларов

Oil field

Prices are falling amid a decline in oil production in Russia, which was unable to meet reduction commitments under the Pact OPEC+.

World oil prices decline during trading on Monday, April 2 Mar. This is evidenced by the operational data of trading.

So, the price of may futures for Brent crude on London’s ICE Futures exchange to 22:20 Moscow time has fallen in price on $1,59 (2,8%), to $67.75 a barrel.

In turn, the WTI crude oil at auction new York Mercantile exchange (NYMEX) decreased by $1,82 (2,8%) to $63,12 per barrel.

Prices are falling on the background of reducing the extraction of raw materials in Russia. So, Russia in March was unable to fulfil obligations to reduce oil production in the OPEC Pact+. The Ministry of energy reported that last month the production of oil and gas condensate decreased by about 280 thousand barrels per day. This is 93.4% of the agreed as part of the transaction quota of 300 thousand barrels per day.

American stock markets fell on Monday by 0.7-1.6% on Monday amid low trading activity, which also negatively affected.

Earlier it was reported that Bahrain discovered oil field, which is the largest in this country since 1932.

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