Crude prices are recording increases of more than 2% with the opening of the European markets for the session today, Monday, the fifth of September, the opening session of the week, and there is anticipation in the markets for the meeting of the Organization of Petroleum Producing Countries (OPEC) and its independent allies from outside the organization, led by Russia, to determine the production policy of the organization in the coming period and to discuss developments in crude prices.

Sources to Reuters within the Organization of the Petroleum Exporting Countries stated that OPEC + will discuss, at its meeting, to be held after hours, production cuts of 100,000 barrels per day, among other options, despite the statements of the Wall Street Journal yesterday, Sunday, that Russia does not support production cuts at the present time.

Meanwhile, rising investor fears caused by the recent rise in COVID-19 cases in China and the imposition of some restrictions that raise fears of weak demand in the world’s second largest consumer of crude affects crude’s gains in the opening session.

Brent crude is trading at levels of $95.49 a barrel, an increase of about 2.66%, while the American crude (NYMEX) is trading at an increase of about 2.50%, trading at levels of $89.04 a barrel.