Postponed OPEC+ meeting triggers oil price drop

Growing crude oil inventories in the US and a postponed OPEC+ meeting makes the oil price go down.

Photo: Dado Ruvic/REUTERS / X02714

Oil prices continue to drop Wednesday following an unexpected increase in crude oil inventories in the US, and after a meeting of the petroleum exporting nations in OPEC+ have been postponed, reports Reuters.

A barrel of European reference oil Brent cost USD 47.06 on Wednesday, down from USD 47.16 on Tuesday. US reference oil WTI is trading at USD 44.15 against USD 44.30 on Tuesday afternoon CET.

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