Brent crude holds stable above $76

28/06/2021 Argaam

Oil prices were stable on Monday ahead of the OPEC+ meeting later this week, amid expectations that the group will decide to increase production from August.

 

The international benchmark Brent crude was trading at $76.13 per barrel, at 9.00 am Makkah time.

 

WTI crude was trading at $74.05 per barrel.

 

The Organization of the Petroleum Exporting Countries and its allies (OPEC+) will meet on July 1 to review production cuts.

 

Analysts at Singapore's OCBC bank expect to see an increase of 250,000 barrels per day (bpd) from August, Reuters reported.

 

Analysts at ANZ and ING expect OPEC+ to increase output by about 500,000 bpd in August.

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