This morning, the New York futures for Brent have fallen in price by 0.61% to $ 53.6 and WTI fell 0.69% to $ 50.58 per barrel. Thus, the black gold is trading in the continued negative correction after the recent rally. The reason for the decrease was the skepticism regarding the willingness of market participants, OPEC and other major oil producers countries to implement plans to limit the growth of oil production.

Also yesterday, it was reported that US crude inventories fell more than expected. According to API, crude oil inventories fell by 2.2 million barrels to 485.4 million in the week ended Dec. 2, while analysts had expected that they will fall by 1 million barrels.