OPEC+ must decide whether to increase oil production following the previously adopted schedule or not.
Oil prices are falling more than 3%.
At the end of last week, oil prices went down by more than 10%.
OPEC+ may change plans to increase oil production in case of unforeseen factors.
New quarantine restrictions in Europe shows that the growth rate of global oil demand may turn out to be weaker.
The main reasons are the lack of strict quarantine measures to counter the spread of COVID-19 in 2021.
Naftogaz will reduce the gas price for the population by two months.
The ministry has increased social standards by 50%.
Traders fear that the rapid spread of the new COVID-19 strain in Asian countries will force states to impose new quarantine restrictions.
The market is supported by the prospects of limited supply and strong demand in the US.
The market also continues to focus on news regarding the Colonial Pipeline Co.
Oil prices are rising due to an improved forecast for demand for the current year by the Joint Technical Committee.