The price of oil is on its way to a weekly loss and markets pending the "OPEC+" decision

Oil prices dropped for the third consecutive day and on their way to recording weekly losses before the “OPEC+” meeting, which could see the approval of a new increase in supplies. The price of Brent rough dropped to the $ 66 -a -barrel level after losing more than 3% during the previous two sessions, while the price of the Western Texas -Tussentage crude stabilized nearly $ 63. The coalition is scheduled to hold a hypothetical meeting on September 7 to discuss the next step, after acknowledging during his previous meeting that a herpump of 2.5 million barrels per day is of supplies. Analysts in the oil market said analysts at Anz Group Holdings, including Daniel Heinz, in a research note: “The oil market goes through a state of anxiety and anticipation.” They added that “expectations are increasing that the coalition is increasingly pumping vessels in the market, in an effort to restore the market share it has lost for the benefit of shale oil producers in the United States.” Also read: Bloomberg poll: OPEC+ is on their way to stabilize oil production during the next meeting. Brent -Ru -Terma contracts have fallen by 11% since the beginning of the year, after “OPEC+” has changed its way and increased the supplies, parallel to the increase in production from outside the alliance, which aggravates the fear of the world supply. The market moral was also negatively affected by the increase in concerns about energy demand, and the fear was partially exacerbated by customs duties imposed by the administration of President Donald Trump. Novak: There is no specific agenda for the meeting before the ‘OPEC+’ meeting, but the news agency Tass quoted that Russian Deputy Prime Minister Alexander Novak said that the countries participating in the talks did not set up a specific agenda for the meeting. “We always look at the current situation in its entirety and future expectations, and on this basis we solve problems directly during the meeting,” Novak said. Oil ended on Thursday’s trade, after a US government report revealed an increase in crude shares worldwide, including an increase of 1.6 million barrels in the main storage center in Coastal City, Oklahoma, the largest since March. Meanwhile, the operating figures of refineries have remained at the lowest levels since July. Also read: The rise in US stocks and the ‘OPEC’ fear is the pressure on oil prices to limit Russian oil buyers, as geopolitical tension has dominated the scene this week, as the United States wants to push the Russian crude buyer to carry Moscow to accept a ceasefire in Ukraine. In this context, Washington imposed 50% fees on some imports from India. In a separate step, President Donald Trump called on European leaders during a phone call to stop buying Russian oil, according to Reuters. Brent Ru, November delivery, dropped 0.4% to $ 66.72 a barrel at 10:02 p.m. Singapore time. So the prices dropped by more than 2% this week. The price of Western Texas -Intermediate RU, October delivery fell 0.4% to $ 63.20 a barrel.