Oil prices corrective decline after two-day growth

MOSCOW, 5 Oct – PRIME. World oil prices on Wednesday morning are slightly declining after a two-day increase, according to trading data.

As of 8:11 Moscow time, the price of December futures for Brent crude oil is falling by 0.07%, to $91.74 per barrel, November futures for WTI – by 0.16%, to $86.38.

On Wednesday morning, oil prices declined after rising due to media reports that OPEC + will consider cutting oil production by more than 1 million barrels per day at a meeting in Vienna on Wednesday. Thus, in two days the cost of Brent oil increased by 4.33%, WTI – by 8.67%.

Also, the markets are waiting for the statistics. Later in the evening, the US Department of Energy will publish weekly data on stocks in the country. Analysts believe that commercial oil stocks for the week to September 30 rose by 2 million barrels.