Oil prices fall ahead of OPEC + meeting

On Monday morning, oil quotes show a decline - in 08:54 Brent fell 0.69% to $ 37.58, WTI - 0.65% to $ 35.26. Players are waiting for the upcoming OPEC + meeting, scheduled for June 9 and 10, which will clarify the further scheme cuts in oil production. According to the terms of the current agreement, adopted in April, from July production volumes should be 2 million barrels per day. However, according to information from RIA Novosti, the possibility of continuation of its decline at current levels. The meeting will be held in the format of a video conference, at which the participants will discuss the situation on the oil market and the first results of implementation agreement. In addition, a meeting is planned on the 8th. monitoring committee OPEC +. The contractual quotas are currently equal to 9.7 million bpd for the period from May to June, 7.7 million bpd in the second half of the year, then - 5.8 million b / d until the end of April next year.