Oil collapsed by 5% on Monday

Oil quotations demonstrated negative dynamics on Monday. During the day the fall reached 2%, and in the evening it accelerated to 4.5 - 5%. A more active decline began after the opening of trading in the U.S. The pressure on prices was put by the recent OPEC+ meeting, which strengthened investors' fears of oversupply on the market. The level of production limitation, according to the current The level of production limitation under the current agreement is gradually going down. On April 1, the cartel set new On April 1, the cartel set new quotas for the coming months; the current value is 6.9 million bpd, In May it will be lowered to 6.55 million b / c. At the same time, Saudi Arabia Saudi Arabia, meanwhile, has voluntarily decided to make further cuts of 7.9 mln bpd in its Saudi Arabia decided to further reduce its production by 7.9 mln bpd in April and by 7.3 mln bpd in May. Quotas to limit production have been set by the organization until July - agreed, that they will be smaller every month. In addition, players are concerned about the growth of supply due to the likelihood of In addition, players are concerned about the growth in supply due to the likelihood of the United States easing sanctions on Iran.