{"id":34838,"date":"2024-05-31T06:00:41","date_gmt":"2024-05-31T06:00:41","guid":{"rendered":"https:\/\/nigerdeltanews.ng\/crude-oil-prices-drop-ahead-of-opec-meeting\/"},"modified":"2024-05-31T06:00:41","modified_gmt":"2024-05-31T06:00:41","slug":"crude-oil-prices-drop-ahead-of-opec-meeting","status":"publish","type":"post","link":"https:\/\/nigerdeltanews.ng\/crude-oil-prices-drop-ahead-of-opec-meeting\/","title":{"rendered":"Crude oil prices drop ahead of OPEC meeting"},"content":{"rendered":"<div>\n<p>Crude oil prices have dropped amid anxiety surrounding the Organization of Petroleum Countries meeting at the weekend.<\/p>\n<p>Brent crude futures fell by $1.74, or 2.1 percent to settle at $81.86 a barrel.<\/p>\n<p>Similarly, U.S. West Texas Intermediate crude futures fell by $1.32, or 1.7 percent, to $77.91 a barrel.<\/p>\n<p>\u201cThe Weakness in gasoline markets have continued to drag down the rest of the oil complex,\u201d Alex Hodes, oil analyst at brokerage StoneX on Thursday according to Reuters.<\/p>\n<p>A further analysis showed that Oil investors are also cautious ahead of an OPEC+ meeting on June 2, 2024. Accordingly, the oil producers\u2019 countries group will decide whether to extend, deepen or unwind supply cuts.<\/p>\n<p>Soft fuel demand and rising global oil inventories may help convince OPEC+ producers, which include the Organization of the Petroleum Exporting Countries (OPEC) and allies, including Russia, to maintain supply cuts when they meet on June 2, OPEC+ delegates and analysts say.<\/p>\n<p>Crude oil prices drop ahead of OPEC meeting<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Crude oil prices have dropped amid anxiety surrounding the Organization of Petroleum Countries meeting at the weekend. Brent crude futures&hellip;<\/p>\n","protected":false},"author":1,"featured_media":34839,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4161,665,15,9155],"tags":[317,519,669,16089,14057,180,670,9156,1204],"class_list":["post-34838","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-crude-oil","category-news","category-opec","tag-ahead","tag-business","tag-crude","tag-drop","tag-meeting","tag-news","tag-oil","tag-opec","tag-prices"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Crude oil prices drop ahead of OPEC meeting - Niger Delta News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nigerdeltanews.ng\/crude-oil-prices-drop-ahead-of-opec-meeting\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Crude oil prices drop ahead of OPEC meeting - Niger Delta News\" \/>\n<meta property=\"og:description\" content=\"Crude oil prices have dropped amid anxiety surrounding the Organization of Petroleum Countries meeting at the weekend. 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