Baghdad, Brent crude prices recorded a slight decrease in early trading today, Tuesday.
Brent crude fell 90 cents, or 0.5%, to $83.17 a barrel.
As for the US West Texas Intermediate crude for the month of March, which ends today, it rose 8 cents, or 0.10%, to $76.42.
The West Texas Intermediate contract for the month of April, which is currently the most active, rose 52 cents, or 0.68%, at $77.07.
Analysts say that oil prices may rise in the coming weeks due to a lack of supply and a recovery in demand, despite the obstacles in the near term such as raising US interest rates.
Russia plans to reduce oil production by 500,000 barrels per day, equivalent to approximately 5%, of its production in the next month, after the West imposed ceilings on the prices of oil and Russian oil products.
Source: National Iraqi News Agency