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Oil prices weaker today due to OPEC+ rumors

Oil prices fall on Friday evening in Asia, as rumors say that OPEC+ is considering an increase in oil production.

Brent crude oil falls below $78 dollars by 0.57% to $77.92 per barrel.

WTI crude oil falls 0.64% to $74.55 a barrel.

According to insiders, OPEC+ is said to be thinking about further increasing oil production. In a previous deal, OPEC+ has already agreed to increase oil production by 400,000 barrels per day. Due to the supply bottlenecks also triggered by the storm damage in the Gulf of Mexico, oil prices have recently risen again. OPEC+ will meet on Monday to discuss further action.

To cope with the global energy crisis, some countries are considering switching from natural gas to oil. Prices for natural gas have soared this year.

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