Barrel of Oil is Approximately $ 42

Barrel of Oil is Approximately $ 42

Brent oil's barrel price finished the day at $ 41.51 after rising to $ 41.64 yesterday. Brent oil price per barrel traded at $ 41.98 today, up 1.13 percent compared to closing at 09.19. In the same minutes, the price of the barrel of West Texas type (WTI) crude oil was traded at 39.33. The Organization of the Petroleum Exporting Countries (OPEC) held a meeting of the Joint Ministerial Monitoring Committee (JMMC) yesterday. It was stated that after the JMMC meeting, OPEC members, who produced oil above their quota in May and June, agreed to cut more than their production in July, August and September. Experts emphasizing the effect of the fact that the OPEC members of the mentioned countries will make additional oil cuts in reducing the excess supply in the global market states that this will increase the prices. Brent oil is technically stated that the range of $ 42.03 to $ 42.11 can be traced as a resistance zone, and the range of $ 41.83 to $ 41.69 as a support zone.