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  • Oil prices fall after OPEC+ plans to begin phasing out voluntary cuts in fourth quarter

    06/03/2024 8:05:00 AM PDT · by Miami Rebel · 12 replies
    Marketwatch ^ | June 3, 2024 | Myra P. Saefong and William Watts
    Move to phase out voluntary cuts depends on market conditions Oil futures headed lower on Monday as traders assessed a decision by the OPEC+ to extend cuts by the group into 2025 but to begin unwinding some additional voluntary reductions later this year. West Texas Intermediate crude CL00, -2.69% for July delivery CL.1, -2.74% CLN24, -2.69% was down $2, or 2.7%, to $74.94 a barrel on the New York Mercantile Exchange. August Brent crude BRN00, -2.38% BRNQ24, -2.43%, the global benchmark, fell $1.72, or 2.1%, to $79.39 a barrel on ICE Futures Europe. July gasoline RBN24, -2.12% declined by 2.1%...