Oil prices decline ahead of OPEC meeting

June 20, 2018 6:30 PM

NEW YORK, June 19 (Xinhua) — Oil prices ended lower on Tuesday as investors were awaiting the upcoming OPEC (the Organization of the Petroleum Exporting Countries) meeting.
The West Texas Intermediate for July delivery fell 0.78 U.S. dollar to settle at 65.07 dollars a barrel on the New York Mercantile Exchange, while Brent crude for August delivery was down 0.26 dollar to close at 75.08 dollars a barrel on the London ICE Futures Exchange.
OPEC and its allied oil producers including Russia will meet on June 22 in Vienna. It was expected that the major exporters would discuss whether to withdraw from the current output-cut deal.

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