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2020 November 5   09:29

Oil prices decrease in expectation of US election news

Oil prices fell by 1.99-2.02%

As of November 5 (08:16 Moscow time), Brent Crude futures for January delivery fell by 1.99% to $40.41 per barrel on the London-based ICE Futures Europe Exchange.

Light Sweet Crude (WTI) futures for December delivery on the New York Mercantile Exchange fell by 2.02% to $38.36 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.

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