(MENAFN) Oil rates keeps on declining on Tuesday due to market worry as financers are anticipating the result of OPEC+ gathering and the US Federal Reserve (Fed) interest rate verdict on Wednesday.
International benchmark Brent crude exchanged at USD84.11 a barrel as of 10.12 AM regional time (0712GMT), a 0.46 percent decline from the ending price of USD84.50 per barrel in the prior exchange session.
The American benchmark West Texas Intermediate (WTI) sold at USD77.45 a barrel at the same time, a 0.57 percent decrease after the last session ended at USD77.90 per barrel.
The Organization of Petroleum Exporting Countries (OPEC) and its allies, recognized as OPEC+, are estimated to host a panel on Wednesday when the 23-member group is going to study the market advancement.
The group is going to also study their output quotas, however, the market estimation is to sustain the production level unaffected. The group had accepted on the 4th of December last to reduce output by 2 million barrels a day.
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