Oil prices in the Asian market fell at the beginning of trading today, continuing the decline that began after oil producers in the OPEC + alliance agreed on voluntary cuts in oil production during the first quarter of next year.
Brent crude futures for February fell by 14 cents, or 0.2%, to 80.72 dollars per barrel by 00:05 GMT. US WTI contracts also fell by 12 cents, or 0.2%, to 75.84 dollars.
Saudi Arabia, Russia and other members of the OPEC+ alliance have agreed to voluntary production cuts of 2.2 million barrels per day in the first quarter of 2024.
On the other hand, oil prices witnessed a noticeable rise during trading, last Thursday, before the start of the OPEC + ministerial meeting later in the day, as investors absorbed the data of US inventories, which showed a rise more than expected.
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