Crude prices are recording declines in the middle of the trading session on Friday, the first of October and the last quarter of this year, as US crude (NYMEX) is down by about 0.88% and trading at levels of $74.37 a barrel, while Brent crude is losing about 0.65%, trading at levels of $77.80 a barrel.

Crude prices recorded monthly gains in September, the strongest since last February, as the gains of US crude and Brent crude exceeded 10% by closing the September session yesterday, Thursday, after Brent and NYMEX crude traded at their highest levels in three years at 80.50 for Brent and 76.44 for NYMEX at the beginning of the week.

The supply disruptions in the US Gulf of Mexico affected by Hurricane Ida and Nicholas and the exit of a large part of US production from service supported crude prices in September, in addition to the decline in US stocks in four consecutive weeks before the last announcement last Wednesday, which showed a rise contrary to expectations.

The high expectations of financial institutions and analysts for crude prices this year formed additional support for prices, as the last of these institutions was the investment bank Goldman Sachs, which raised its forecast for Brent crude to $90 a barrel by the end of this year, compared to $80 in previous forecasts.

It seems that the United States of America is pressuring OPEC and its independent allies outside the organization, led by Russia, to rein in prices, which recorded strong increases in September, as White House spokeswoman Jen Psaki confirmed that the current oil prices are worrying to the United States of America and that the US government is in contact with OPEC to discuss this. Topic .

After expectations indicated that the organization would abide by its current agreement, four OPEC sources showed this Friday morning, in addition to reports by Bloomberg Agency, that the organization is considering changing its current agreement to increase production at its meeting scheduled for next Monday.

According to the current agreement, OPEC and its producing allies are supposed to commit to increasing production by about 400,000 barrels per month until December to gradually get rid of 5.8 million barrels per day, while another source indicated that the organization is studying a proposal to increase production by about 800,000 barrels for one month to limit crude rises.