Brent Oil Hovered Above $71 A Barrel on September 2

Brent oil hovered above $71 a barrel on September 2. Today in global markets, a barrel of Brent oil is priced at $71.35.

Brent oil, which went up to $ 72.38 yesterday, closed the day at $ 71.59. The barrel of Brent oil, which recorded a decrease of 0.34 percent compared to the closing at 09:16 am today, is trading at $ 71.35. At the same time, West Texas Intermediate (WTI) crude oil was traded at $68.33 a barrel. The OPEC+ group's decision to continue its plan for "gradual easing of daily oil production cuts in the August-December period" played a role in the drop in oil prices. At the 20th Ministerial Meeting, where 13-member OPEC led by Saudi Arabia and 10 non-OPEC oil producing countries led by Russia, came together with the video conference method yesterday, noting that the coronavirus epidemic continues to create uncertainty, but the market fundamentals have strengthened, they continue with the production regulation plan that was determined before. decided to increase production by 400 thousand barrels per day for October. At its meeting on July 18, the Group had decided to increase oil production by 400,000 barrels per month in the August-December period. In technical terms, it was stated that the range of $71.43 to $71.65 can be viewed as resistance and the range of $71.21 to $70.99 as support in Brent oil.