05:37 GMT17 April 2021
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    MOSCOW (Sputnik) - The price for WTI oil has fallen below $19 per barrel for the first time since  31 January, 2002, trading data showed on Friday.

    As of 10.06 a.m. Moscow time (07:06 GMT), the price for WTI futures for delivery in May was falling by 4.28 percent to $19.02 per barrel, while mere minutes earlier it was down to $18.96 per barrel.

    At the same time, the price for Brent oil futures for delivery in June was up by 0.86 percent to $28.07 per barrel.

    On Sunday, OPEC+ signed a landmark deal that commits member nations to reduce crude oil production by 9.7 million barrels per day from May-June. Thereafter, production will be cut by 7.7 million barrels per day until the end of 2020, and by 5.8 million barrels daily from January 2021 until April 2022.

    OPEC, oil price, WTI
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