Oil prices remain under pressure after the OPEC policy change to increase oil production

Quick Summary:

ICE Brent crude oil prices have been hovering around $80 to $90 per barrel since early February, supported by OPEC+ crude oil production cuts and conflicts in the Middle East.

However, at the beginning of June, prices fell back below $80 per barrel after an OPEC+ policy change.

On June 2nd, the OPEC+ group decided to increase oil production by a total of 2.2 million barrels per day (0.18 million...

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Article Details

Category: EconomyBusiness

Markets: ThailandEgyptIsraelQatarUnited States

Topics: Prices 2024 Crude Barrel Year Being Normal Brent June Israel Supply

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-06-18 @ 16:32:00 (1 weeks ago)

News Timezone: GMT +8:00

News Source URL: bangkokpost.com

Language: English

Article Length: 597 words

Reading Time: 4 minutes read

Sentences: 21 lines

Sentence Length: 29 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Bangkok Post

News ID: 21301214

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About Bangkok Post

Main Topics: EconomyBusiness

Official Website: bangkokpost.com

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News Last Updated: 5 hours ago

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Publisher ID: #66

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