Oil Prices Trade Lower Amid Reports that Russia Wants to End Output Restraint

© Reuters.

Oil prices traded lower on Tuesday in Asia on reports that Russia wants to end the current deal on output restraint in June.

Crude Oil WTI Futures slipped 0.1% to $63.34 by 1:20 AM ET (05:20 GMT), while Brent crude, the global benchmark, was down 0.2% to $71.03.

Oil prices have jumped more than 30% so far in 2019, mainly due to a deal by the Organization of the Petroleum Exporting Countries (OPEC) and its allies to curb oil production by 1.2 million barrels per day from January for six months.

www.bullscommodity.com

8077693824