Baghdad Oil prices fell today, Monday, after four days of gains, as investors and traders await important talks by OPEC + after a disagreement within the group that may lead to major producers increasing trading volumes to seize their market shares.
Brent crude fell 10 cents, or 0.13 percent, to $76.05 a barrel.
US oil was down 7 cents, or 0.07%, at $75.09 a barrel, after rising 1.5% last week, the sixth consecutive week of gains.
The Organization of the Petroleum Exporting Countries (OPEC) and its allies, known as OPEC+, voted last Friday to increase production by about two million barrels per day from August to December 2021 and extend the remaining production cuts until the end of 2022, but objections from the United Arab Emirates (UAE) prevented an agreement from being reached.
Source: National Iraqi News Agency