The cost of a barrel of Brent oil exceeded $ 81 for the first time since the end of April
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The cost of September futures for Brent crude oil exceeded $81 per barrel for the first time since April 26. This follows from the data of the London ICE exchange.
During the auction, by 17:05 Moscow time, the price of this brand of oil reached $81.14, and by 17:53 the cost of a barrel of Brent was $81.27.
On June 4, following a meeting of OPEC+ ministers, an agreement was reached to reduce the quota for oil production from the current level by 1.6 million barrels per day (to 40.46 million bpd) from January 2024. Oil production in Russia will be reduced by 650,000 b/d, Nigeria – by 362,000 b/d, Angola – by 175,000 b/d, etc.
Deputy Prime Minister Alexander Novak said that Russia would voluntarily reduce the volume of oil exports in August by 500,000 bpd. The decision to cut supplies was made to support “efforts to bring the market into balance,” he said.
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