World oil prices increased on Thursday morning (May 5), extending the gain compared to the previous session.
Brent crude rose 35 US cents, or 0.3%, to $110.49 a barrel, while US crude rose 25 US cents, or 0.2%, to $108.06 a barrel.
Both oils rose more than $1 a barrel earlier in the session, after gaining more than $5 a barrel on Wednesday.
On Thursday, the Organization of the Petroleum Exporting Countries and allied producers, known as OPEC+, are expected to agree to raise output to 432,000 bpd (bpd) in June 2022. OPEC+ will stick to its plan to gradually increase monthly output.
A private sector survey on Thursday showed that activity in China’s service sector shrank to a record level in April as the impact of the Covid-19 epidemic imposed restrictive measures. go.
Europe imports about 3.5 million barrels of oil and oil products from Russia every day, and is dependent on gas supplies from the country.

In the US, crude stockpiles rose 1.2 million barrels last week, according to the Energy Information Administration.

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