Crude oil prices faltered during a meeting between OPEC and non-OPEC oil producers led by Russia, where the countries were expected to agree to increase production.
Futures for Brent oil, the global oil reference, compared previous losses and was up approx. 0.1%. The market expects the supply to increase after a meeting between the Organization of the Petroleum Exporting Countries’ 13 members and 10 non-OPEC producers on Thursday. The United States and Europe have pressured the group, called OPEC +, to pump more crude oil, as Russia’s invasion of Ukraine has sent oil prices above $ 100 a barrel.