Oil prices were little changed on Monday, with the Organization of the Petroleum Exporting Countries (OPEC) considering meeting as soon as this week to discuss whether to extend record production cuts beyond end-June.
Oil prices sold off Monday, with the focus very much on the upcoming meeting of the Organization of the Petroleum Exporting Countries to discuss whether to extend record production cuts beyond end-June.
The price falls come after the front-month Brent and WTI prices posted their strongest monthly gains in years in May.
At 2:10 AM ET, U.S. crude futures traded 0.3% lower at $35.38 a barrel. The international benchmark Brent contract fell 0.3% to $37.70.