Open Demo Account
Home / Market Update / Commodities / Oil Closes Lower Ahead of OPEC Meeting

Oil Closes Lower Ahead of OPEC Meeting

M. Ali 2 March, 2021 3:27 am Commodities, Market Update

Oil prices declined on Monday, as the market is anticipating the upcoming OPEC+ summit this week, which will decide on production policy during March.

The meeting is expected to see the easing of output curbs amid the recovery of global crude prices.

Brent crude futures for May delivery declined by 73 cents, or 1.1%, to finish at $63.69 per barrel.

Meanwhile, the West Texas Intermediate (WTI) crude futures for April delivery closed lower by 86 cents, or 1.4%, at $60.64 per barrel.   

Tags

Check Also

Why Did the Dow Retreat from Record Highs?

The Dow Jones Industrial Average (DJIA) retreated from its record-setting run, slipping below 46,000 as …

This site contains information and opinions for the purpose of providing only general information and can not be relied upon. The information and opinions contained in this Site shall in no way constitute an offer or solicitation to buy, sell or subscribe to any investment product. Users of this site shall bear any risks arising from the use of any information, opinion, program, service or material. Noor Trends reserves the right to make any change to the Site, the information, opinions, materials, products, programs, services or prices (if any) at any time without notice.
All copyrights reserved Noor Trends