Oil prices fall, Brent hovers around $73 on expectation OPEC will raise output
The producer cartel of the Organization of the Petroleum Exporting Countries (OPEC), which is de-facto led by Saudi Arabia, and some allies including Russia have been withholding output with since the start of 2017. Producers will meet in Vienna on June 22 to decide forward production policy.
U.S. West Texas Intermediate (WTI) crude futures were at $64.24 a barrel. Image source: Reuters