World oil prices fall amid reports of a possible withdrawal of the UAE from OPEC
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Prices for Brent and WTI crude oil fell sharply, follows from the trading data of the London ICE exchange. This happens in the background of the publication The Wall Street Journal (WSJ) on the plans of the UAE to withdraw from OPEC.
As of 17:25 Moscow time, it follows from the trading data, the cost of May futures for Brent decreased by 2.1%, to $82.97. At the same time, before the publication of the WSJ, oil was trading at $84 per barrel. The maximum price fell to $82.41 per barrel (-2.8%).
The cost of WTI futures for delivery in April by 17:25 Moscow time fell to $76.4 per barrel, up 2.25%. The maximum decline is to $75.88 per barrel (-2.9%). Prior to the publication of the WSJ material, WTI futures were trading at $77.5 per barrel.
Earlier today, on March 3, the WSJ, citing unnamed Emirati officials, reported that internal discussions were underway in the UAE about withdrawing from OPEC. According to the newspaper, some people in the government are unhappy that, as a member of OPEC, the UAE is obliged to reduce oil production, despite the country’s high production capacity.
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