The price of Brent crude decreased by 5.23%, to $ 29.35

US, WASHINGTON (ORDO NEWS) — The cost of the Brent oil futures for delivery in July this year on the London ICE on May 11 at 21:17 UTC decreased by 5.23% and reached $ 29.35 per barrel.

By 21:25 UTC, the price of Brent slowed down, its price remains at $ 29.70, which is 3.4% higher than the previous session.

On May 8, the price of Brent crude on the ICE exchange was $ 31 per barrel.

On April 12, OPEC countries and other oil producers reached an agreement to reduce oil production by 9.7 million barrels per day in May and June. Russian Energy Minister Alexander Novak then noted that the deal would help protect the industry from disaster.

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