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Oil levels down at Tuesday’s settlement

Oil levels down at Tuesday’s settlement

Mubasher: Oil futures settled lower on Tuesday, as some factors threatened to compromise OPEC+ efforts to cut output.  

May Nymex WTI went down $0.42, or 0.7%, to close at $63.98 per barrel.

U.S. crude inventories may increase by 2.8 million barrels for the week ended 5 April, according to a survey of analysts conducted by S&P Global Platts. 

Earlier in April, a Russian official stated that his country may demand an increase in oil production during OPEC meeting in June, according to Reuters.