Oil price falls after OPEC+ meeting postponed

On Monday (6), oil prices suffered a postponement of the meeting between Saudi Arabia and Russia. The meeting would address the cuts in oil production that would help reduce global oversupply and balance demand, brought down by the pandemic of Coronavirus. It is worth remembering that the postponement occurred amid pressure from the president of the United States, Donald Trump.

Brent crude retreated $1.14, or 3.34%, to $32.97 per at 8:06 a.m. PDT. U.S. oil fell $100 1, or 3.53%, at $27.34 per barrel.

The new meeting should take place next Thursday (9), bringing together (Organization of Petroleum Exporting Countries) and its allies, a group known as Opec+. There, measures will be discussed to reduce Production.


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