Oil declined today due to gaining supply in the U.S. and the possibility that OPEC might soften production restrictions.
Brent stood at $75.73 per barrel, falling 15 cents from the last settlement. U.S. WTI dipped to $66.01 for a barrel, losing 35 cents.
OPEC and some other oil exporters as Russia began their production cuts in 2017 looking to end global oversupply, which made prices grow by about 60% during the past year. Experts believe that oil market prospects for the second 6 months of the year are unclear, and OPEC warns of downside risks to demand.