The barrel price of Brent oil, which rose to $41.64 yesterday, finished the day at $41.51. As of 09.19 today, the barrel of Brent oil was traded at $41.98, with an increase of 1.13 percent compared to the closing. At the same time, West Texas Intermediate (WTI) crude oil was sold at $39.33 per barrel.
The Organization of Petroleum Exporting Countries (OPEC) held a Joint Ministerial Monitoring Committee (JMMC) meeting yesterday.
Following the JMMC meeting, it was reported that OPEC members Iraq and Nigeria, who produced oil above their quotas in May and June, agreed to further cut their production in July, August and September.
Experts point out the effect of additional oil cuts by the OPEC members in reducing the excess supply in the global market, and state that this supports prices upwards.
It is stated that technically, the range between 42.03 and 42.11 dollars in Brent oil can be viewed as resistance, and the range between 41.83 and 41.69 dollars can be viewed as support zone.
Source: https://www.aa.com.tr/tr/ekonomi/brent-petrolun-varili-41-98-dolar/1882432
