Oil prices slip after OPEC+ agree to ease output cuts

By Reuters6 days ago

AD

Reuters. A 3D printed oil pump jack is seen in front of displayed stock graph and Opec logo in this illustration picture

By Florence Tan

SINGAPORE (Reuters) - Oil prices edged down in early Asian trade on Monday after OPEC+ agreed last week to gradually ease some of its production cuts between May and July.

Brent crude futures for June fell 16 cents, or 0.2%, to $64.70 a barrel by 2351 GMT while U.S. West Texas Intermediate crude for May was at $61.32 a barrel, down 13 cents, or 0.2%.

Both contracts settled up more than $2 a barrel after the OPEC+ decision and on optimism about energy demand after U.S. President Joe Biden outlined a $2 trillion infrastructure spending plan.

Continue read on investing.com