World Oil Price Falls to US$64.41/Barrel (Monday, April 5)
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Global crude oil prices weakened on Monday, April 5, 2021, until 09:50 WIB. Brent crude oil traded at US$64.41 per barrel, down 0.37% from the previous trading session. Meanwhile, West Texas Intermediate (WTI) crude oil decreased by 0.33%, reaching US$61.08 per barrel.
The decline in oil prices is suspected to be due to the OPEC+ agreement to cut production between May and July. This decision was made after the United States administration requested that Saudi Arabia maintain the supply of affordable energy fuel.
However, Europe is still implementing regional lockdowns due to the COVID-19 pandemic. Meanwhile, Japan may potentially increase emergency measures in response to a new wave of the disease, as cited by Reuters.
"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."
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