Thursday, June 1, 2023

Texas oil falls 3.4% and closes at $71.83 a barrel

The price of Texas intermediate oil fell 3.4% on Thursday and closed at $71.83 a barrel, after Russia ruled out cuts in oil countries at the next OPEC+ meeting as suggested Saudi Arabia.

At the close of business in NYa barrel of WTI for July delivery dropped $2.51 from the previous day’s close.

In the same way, also in London the price of a barrel of Brent oil for delivery in July ended this Thursday in the futures market at $76.26, 2.70% less than at the end of the previous session.

The deputy prime minister of Russia, Alexandr Novak, in charge of his country’s negotiations in the OPEC+ alliance, ruled out new decisions at the next ministerial meeting of the countries of the Organization of Petroleum Exporting Countries (OPEC) after Saudi Arabia would have suggested the possibility of further production cuts.


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