2020 October 12 09:37

Oil prices decrease in the beginning of the week

Oil prices fell by 0.98-0.99%

As of October 12 (07:36 Moscow time), Brent Crude futures for December delivery fell by 0.98% to $42.43 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 0.99% to $40.2 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.