Madrid, May 5 (Effect) .- The price of Brent oil, the reference in Europe, has more than 3 % sinks this Monday, after the OPEC+alliance, led by Saudi and Russia Arabia, decided on Saturday to increase its oil offer on 41,000 barrels per day from June 1.
And this, after having uploaded this month the pumping in the same volume.
According to Bloomberg data collected by EFE, at 7.15, the price of Brent crude sinks 3.48 %, to 59.16 dollars.
During this morning, the price of oil has come to fall more force until it is 58.5 dollars.
In this way, it approaches the minimums it marked in April, when it descended to $ 58.40, its lowest level since 2021.
Last Saturday, the OPEC+ reported that, in view of the solid current fundamentals of the market, reflected in the low oil inventories, “Saudi Arabia, Russia, Iraq, United Arab Emirates, Kuwait, Kazakhstan, Algeria and Oman,” will implement an adjustment (upward) of 411,000 barrels per day in June 2025 “.
This volume is the triple they had initially agreed as a monthly increase for each month.
Last Friday, Brent for delivery in July has already closed down, with a 1.35 % drop in the London futures market, up to $ 61.29.
For its part, the price of Texas intermediate oil (WTI) also falls strongly this Monday, 3.65 % before the official opening the market, up to 56.16 dollars. EFE
