{"id":120237,"date":"2024-05-31T11:01:23","date_gmt":"2024-05-31T10:01:23","guid":{"rendered":"https:\/\/www.africa-press.net\/nigeria\/uncategorized\/crude-oil-prices-drop-ahead-of-opec-meeting"},"modified":"2024-05-31T13:44:24","modified_gmt":"2024-05-31T12:44:24","slug":"crude-oil-prices-drop-ahead-of-opec-meeting","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/nigeria\/economy\/crude-oil-prices-drop-ahead-of-opec-meeting","title":{"rendered":"Crude oil prices drop ahead of OPEC meeting"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Nigeria. <\/strong><\/span>Crude oil prices have dropped amid anxiety surrounding the Organization of Petroleum Countries meeting at the weekend.<\/p>\n<p>Brent crude futures fell by $1.74, or 2.1 percent to settle at $81.86 a barrel.<\/p>\n<p>Similarly, U.S. West Texas Intermediate crude futures fell by $1.32, or 1.7 percent, to $77.91 a barrel.<\/p>\n<p>\u201cThe Weakness in gasoline markets have continued to drag down the rest of the oil complex,\u201d Alex Hodes, oil analyst at brokerage StoneX on Thursday according to Reuters.<\/p>\n<p>A further analysis showed that Oil investors are also cautious ahead of an OPEC+ meeting on June 2, 2024. Accordingly, the oil producers\u2019 countries group will decide whether to extend, deepen or unwind supply cuts.<\/p>\n<p>Soft fuel demand and rising global oil inventories may help convince OPEC+ producers, which include the Organization of the Petroleum Exporting Countries (OPEC) and allies, including Russia, to maintain supply cuts when they meet on June 2, OPEC+ delegates and analysts say.<\/p>\n<p><strong>For More News And Analysis About <a href=\"https:\/\/www.africa-press.net\/nigeria\">Nigeria<\/a> Follow <a href=\"https:\/\/www.africa-press.net\/\">Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Nigeria. Crude oil prices have dropped amid anxiety surrounding the Organization of Petroleum Countries meeting at the weekend. Brent crude futures fell by $1.74, or 2.1 percent to settle at $81.86 a barrel. Similarly, U.S. West Texas Intermediate crude futures fell by $1.32, or 1.7 percent, to $77.91 a barrel. \u201cThe Weakness in [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":120235,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,15],"tags":[1570,2140,2530,254,369],"class_list":["post-120237","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-nigeria-2","tag-crude-oil","tag-nigeria","tag-opec"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Crude oil prices drop ahead of OPEC meeting - Nigeria<\/title>\n<meta name=\"description\" content=\"Crude oil prices have dropped amid anxiety surrounding the Organization of Petroleum Countries meeting at the weekend. ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/nigeria\/economy\/crude-oil-prices-drop-ahead-of-opec-meeting\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Crude oil prices drop ahead of OPEC meeting\" \/>\n<meta property=\"og:description\" content=\"Crude oil prices have dropped amid anxiety surrounding the Organization of Petroleum Countries meeting at the weekend. ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/nigeria\/economy\/crude-oil-prices-drop-ahead-of-opec-meeting\" \/>\n<meta property=\"og:site_name\" content=\"Nigeria\" \/>\n<meta property=\"article:published_time\" content=\"2024-05-31T10:01:23+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-05-31T12:44:24+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2024\/05\/sm_1717142946.367619.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1920\" \/>\n\t<meta property=\"og:image:height\" content=\"872\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/crude-oil-prices-drop-ahead-of-opec-meeting#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/crude-oil-prices-drop-ahead-of-opec-meeting\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Crude oil prices drop ahead of OPEC meeting\",\"datePublished\":\"2024-05-31T10:01:23+00:00\",\"dateModified\":\"2024-05-31T12:44:24+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/crude-oil-prices-drop-ahead-of-opec-meeting\"},\"wordCount\":166,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/crude-oil-prices-drop-ahead-of-opec-meeting#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2024\/05\/sm_1717142946.367619.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Nigeria\",\"crude oil\",\"Nigeria\",\"OPEC\"],\"articleSection\":[\"all news\",\"Economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/nigeria\/economy\/crude-oil-prices-drop-ahead-of-opec-meeting#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/crude-oil-prices-drop-ahead-of-opec-meeting\",\"url\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/crude-oil-prices-drop-ahead-of-opec-meeting\",\"name\":\"Crude oil prices drop ahead of OPEC meeting - 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