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The barrel of OPEC crude oil It was moved last Friday at $92.34, thus closing quotation Half September With a loss of 9% compared to the previous month, before the current Wednesday meeting where the group and its devices allies They can decide on a significant reduction in pumping to increase prices.
This value on Friday halted the uptrend seen in Crude Oil. Organization of Petroleum Exporting Countries (OPEC)) the previous three days and left the average price for September at $95.32, the lowest since last January.
OPEC crude
The petroleum From OPEC, as well as other international references such as Brent And Texas, has accumulated widespread losses for weeks due to uncertainties about the development of the global economy and monetary policies in the coming months.
It leads the 13 OPEC countries Arabic Saudiand his ten allies, including Russiawill meet this Wednesday in Vienna at a meeting in which many analysts expect an announcement of strong production cuts, which could reach 1 million barrels per day, roughly 1% of global supply.
OPEC +, as the alliance of the oil cartel and those 10 other countries are known, has been applying a gradual increase in its production for several months to restore the level it was before the Covid epidemic, and the consequent economic slowdown, forcing it to a resounding collapse. Cuts.
However, the group had problems opening the taps and experts believe that only Saudi Arabia and the United Arab Emirates still have room to increase pumping, while the rest are already extracting as much as possible.
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