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7/15, 11:00 AM (Source: TeleTrader)
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Oil prices decrease on OPEC+ deal uncertainty

Prices of oil futures declined on Thursday as uncertainty about the future levels of production of the OPEC+ energy alliance seemingly affected global oil market sentiment.

In addition, the United Arab Emirates' state-owned Abu Dhabi National Oil Company (ADNOC) revealed plans to expand production capacity to 5 million barrels per day (bpd) by 2030.

Brent for September deliveries was down 0.51%, going for $74.36 per barrel at 4:46 am ET, while West Texas Intermediate (WTI) for settlements in August lost 0.92% to sell for $72.46 per barrel at 4:45 am ET.

Breaking the News / MS