The meeting of the Organization of the Petroleum Exporting Countries and the independent allies led by Russia concluded their regular meeting yesterday, Tuesday, with the producers agreeing to stick to the current pace of gradual easing of supplies until next July, while the group did not agree on any new plan for the next phase starting from August, with the consensus that demand levels recovered strongly during the summer in The United States of America, the largest consumer of crude in the world, supported crude prices, despite fears of a rise in Corona virus infections in India, the third largest consumer of crude in the world. This decision comes to the organization in compliance with its decision taken last April to return 2.1 million barrels per day of supplies in the period from May to July to reach 5.8 million barrels. It comes in anticipation of any possible increase in Iranian supply with progress in talks on reviving the nuclear agreement with the United States of America. . During today’s session, the markets are awaiting the American Petroleum Institute report to announce US stocks last week in the preliminary reading before the official statement from the US Energy Information Administration tomorrow, Thursday, where it is expected that stocks have recorded a decline of about 2.1 million barrels last week. Brent crude is trading at levels of $70.63 a barrel, an increase of about 0.54 percent, after testing levels of 71.33 during the session yesterday, Tuesday, close to the peak recorded in March at 71.37. On the other hand, US crude (NYMEX) is trading at an increase of about 0.22 percent at levels of $67.87 a barrel, after recording its highest level since October of 2018, when it tested levels of 68.66 during the session yesterday, Tuesday.