Oil prices are trading weaker – Brent over $ 76

Oil production

Brent is the most important type of oil for Europe. The WTI variety comes from the USA.

(Photo: dpa)

London On the crude oil market, nervousness increased in the run-up to a meeting of the major producing countries. The price of Brent crude from the North Sea fell 1.4 percent to $ 75.15 a barrel (159 liters) after having reached a two-and-a-half-year high shortly before.

The group Opec Plus, which includes not only the members of the export cartel but also countries like Russia, will probably decide on Thursday to expand its crude oil production by 500,000 barrels per day in order to meet the growing demand, the analysts at ING Bank forecast.

“Anything below that would lead the price optimists to push the oil price up further in the short term.”
Click here to go to the page with the Brent price, here to the WTI rate.

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