Oil prices fall ahead of OPEC+ meeting

World oil prices are falling on May 30 morning in anticipation of a meeting of OPEC+ member countries with voluntary production cuts, Report informs referring to trading data.

The price of August Brent crude futures fell by 0.25% to $63.19 per barrel, while July WTI futures fell by 0.25% to $60.79.

On Wednesday, OPEC+ maintained the current parameters of its agreement on oil production conditions, valid until the end of next year.

The organization also instructed the OPEC Secretariat to develop a mechanism for assessing production capacity, which will be used as a guideline for forming baseline oil production levels for 2027.