The price of Brent Oil neared an eight-week low on Monday following OPEC+ closing a deal to increase Oil production. This comes in the wake of OPEC’s previous decision to keep supplies low earlier in the course of the pandemic.
WTI Oil futures are down 1.6% today during early hours trading, dipping below $45 per barrel, as OPEC countries fail to agree on how to proceed forward.
With Oil stuck around the $40-per-barrel mark, OPEC countries are scrambling to maintain their influence in the world’s Oil market.
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