Moscow – Together – Oil prices fell in trading today, Monday, despite the OPEC+ group extending production cuts until the end of next year 2025.

By 09:15 Moscow time, US West Texas Intermediate crude futures fell by 0.35% to $76.72 per barrel, while Brent crude futures fell by 0.38% to $80.80 per barrel.

The decline came despite the decision of the OPEC+ countries to extend oil production cuts until the end of next year, in a move aimed at maintaining the stability of energy markets.

The members of the OPEC+ group are reducing current black gold production by 5.86 million barrels per day, and part of the cuts will be gradually abandoned by next September, and the other part until the end of the year 2025.

Source: Maan News Agency