Oil prices fall amid news of possible increase in production by OPEC+ countries

Global oil prices fell in the final trading session of the quarter, continuing Monday's trend, as market participants weighed news of a possible increase in OPEC+ crude production and the resumption of exports from northern Iraq, Report informs referring to trading data.

The price of December Brent crude futures fell 0.61% from the previous close, to $66.82 per barrel.

November WTI futures fell 0.57% to $63.21. Meanwhile, the day before, prices for individual grades had fallen by around 2-3%: media reports indicated that representatives of eight OPEC+ countries (Saudi Arabia, the UAE, Iraq, Algeria, Russia, Kazakhstan, Oman, and Kuwait) would likely decide to increase their November oil production cap by at least another 137,000 barrels per day at their meeting on October 5.