Crude oil continued its downward movements on Monday, hurt by weak Chinese and American demand along with growing market expectations regarding the OPEC+ alliance abandoning voluntary production restrictions.
In this regard, some news reports reported that the Organization of the Petroleum Exporting Countries (OPEC) and its allies (OPEC+) are planning to increase production of crude oil next October. Eight members of the coalition are likely to increase oil production by 180,000 barrels per day.
