Oil prices go down amid concerns over commodity excess
Oil prices fell by 1%-1.04%
As of October 16 (07:34 Moscow time), Brent Crude futures for December delivery climbed by 1.04% to $42.71 per barrel on the London-based ICE Futures Europe Exchange.
Light Sweet Crude (WTI) futures for November delivery on the New York Mercantile Exchange fell by 1% to $40.55 per barrel.
OPEC+ approved on April 12, 2020, new oil output cut by 9.7 million bpd in May-June, 7.7 million bpd in the second half and 5.8 million bpd by May 2022.