Brent crude oil price today began to decline. Futures on Brent crude oil fell to $99.15 per barrel. Investors are awaiting the outcome of the OPEC+ meeting, according to the trading data.

As of 1.45 pm, the price of September futures on Brent crude oil was decreasing by 0.88% to $99.15 per barrel and August futures on WTI oil – by 0.85% to $93.09.

Oil was falling at about the same pace in the morning. On Tuesday investors are awaiting the results of OPEC+ meeting to be summarized on Wednesday. According to media reports, the alliance may discuss either maintaining the current level or slightly increasing output.

In addition, investors continue “digesting” the news about the increase of “black gold” production in Libya. So, Bloomberg News Agency, citing Oil Minister Mohamed Aoun, a day earlier reported that production in the country rose to 1.2 million barrels per day after it has fallen by more than half since mid-April. Thus, oil production in Libya increased to the level of early April.