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Iraq will supply less oil to some refiners in Asia and Europe as it seeks to meet its production-cut target under the OPEC+ output agreement.

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Oil Prices Ease After OPEC+ Agrees To Taper Oil Supply Curbs.

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Oil prices ease after OPEC+ agrees to taper oil supply curbs

Oil prices eased on Thursday after OPEC and allies such as Russia agreed to taper record supply curbs from August, though the drop was cushioned by hopes for a swift U.S. demand pick-up after a big drawdown from the country’s crude stocks.

Brent crude (LCOc1) fell 33 cents, or 0.8%, to $43.46 a barrel by 0646 GMT, and U.S. West Texas Intermediate (WTI) crude (CLc1) dropped 42 cents, or 1.0%, to $40.78 a barrel. Prices rose 2% the previous day, helped by the U.S. crude inventories drop.

 

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