According to trading data from the London ICE exchange, "Brent" and "WTI" oil prices fell sharply. This happened amid the announcement of the UAE's plans to leave OPEC, "Kommersant" reports.
According to the trade data, as of 15:25 Tashkent time, the price of May futures for Brent decreased by 2.1% and amounted to $82.97. The maximum price fell to $82.41 per barrel (-2.8 percent).
By 15:25 Tashkent time, the price of WTI futures for delivery in April fell by 2.25% to $76.4 per barrel. The maximum decrease was $75.88 per barrel (-2.9 percent).
On the morning of March 3, the Wall Street Journal reported that internal discussions were underway in the UAE to leave OPEC. Some people in the UAE government are unhappy that despite the country's high production capacity, it was forced to reduce oil production as a member of OPEC.
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