Brent oil rose above $ 42 for the first time in three months

The cost of the August futures for Brent crude oil reached 42.06 dollars per barrel during trading on the London ICE.

The last time Brent cost more than $ 42 on March 6th.

In turn, US WTI crude oil came close to $ 40 per barrel and was trading at $ 39.89.

Both Brent and WTI added more than 5% in price per day. how transmits TASS, the growth of oil quotes is due to the expectations of OPEC ministerial meetings, as well as countries outside the organization. Negotiations are scheduled for June 6. The main issue on the agenda is the extension of the current level of production decline of 9.7 million barrels per day after June.

As reported by Rambler, in March oil fell sharply as a result of the failure of the OPEC + agreement to reduce production. In April, OPEC + member countries and some other states agreed to reduce production by 9.7 million barrels per day in May-June and by 7.7 million barrels per day since July. (source: rambler)