Oil prices fell again on Monday by more than 3 percent, affected by the announcement of OPEC+ to accelerate production for the month of June, while prices are witnessing a decline.
In morning trading in Asia, a barrel of U.S. West Texas Intermediate crude fell 3.8 percent to $56.08, while North Sea Brent crude lost 3.5 percent to $59.17.
Eight OPEC plus countries announced a significant increase in oil production for June, under which Saudi Arabia, Russia and six other countries in the alliance will produce an additional 411,000 barrels per day in June, as the level in May, according to a statement from OPEC Plus, while the basic plan was to increase by 137,000 barrels per day.
Source (Al-Khaleej Emirati Newspaper, Edited)
