OPEC+ is due to hold an online ministerial meeting to discuss 2024 production targets
The drop in prices comes as concerns around supply disruptions due to the Israel crisis ease along with a reduced demand for China
To ease oil supply pressure, the US suspended sanctions on OPEC member Venezuela after a Venezuelan government deal with the opposition
The eruption of the Israel-Palestine crisis threatens to derail US efforts to broker a rapprochement between regional powers
Oil prices rose above $90 a barrel for the first time in 2023 on the back of the announcements made by Saudi Arabia and Russia