Oil fluctuates before OPEC meeting

Ecuadornews:

The price of intermediate Texas oil (WTI) advanced on Monday, June 11, 0.54% and closed at $ 66.10 a barrel. The market is awaiting a decision regarding the production quotas of the countries of the Organization of the Petroleum Exporting Countries (OPEC).

At the end of the live operations on the New York Mercantile Exchange, WTI futures contracts for July delivery were up $ 0.36 from the previous session. The price of crude oil has been fluctuating as the meeting on June 22nd of OPEC approaches, in which a decision on production quotas is expected.

Members of OPEC and some producing countries such as Russia agreed to reduce the supply of crude to the market from the end of 2016, a measure that experts believe could be reversed in the face of the possibility of a deficit in the pumping of Iran and Venezuela. (I)

Source: https://www.eltelegrafo.com.ec/noticias/economia/4/crudo-wti-reunion-opep