World oil prices continue to fall

MOSCOW, 30 Sep — PRIME. World oil prices are falling on Friday morning, they can also end the third quarter in the red – for the first time since 2020, according to trading data.

OPEC+ may cut oil production in November, Reuters says

As of 8:14 Moscow time, the price of December futures for Brent crude fell by 0.36%, to $86.87 per barrel, November futures for WTI — by 0.34%, to $80.95.

Since the beginning of the current quarter, Brent has fallen in price by 24.4%, WTI – by 24%. The quarterly decline in oil prices will be recorded for the first time since 2020, when prices fell by more than 60% in the first quarter.

“The bad quarter for oil is obviously a reflection of the supply shortage in the market narrowing and the risks of a global recession rising,” Bloomberg quoted Oanda analyst Edward Moya as saying.

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The expert also added that energy traders expect decisive action from OPEC+.