Gasoline price today May 27: Sideways 'waiting' for news on production from OPEC+

World oil prices slipped slightly, almost flat, following the news that OPEC+ met a day earlier and that countries that had pledged to voluntarily cut oil production all participated. Domestically, gasoline prices may decrease slightly at this week's management session.

On the morning of May 27, gasoline prices slid slightly, Brent oil decreased 4 cents to 64.74 USD/barrel; WTI oil remained unchanged at 61.53 USD/barrel.

According to Reuters, the Organization of the Petroleum Exporting Countries and its allies (OPEC+) has decided to move the meeting date up one day to May 31, instead of June 1. This meeting is expected to decide on July production. The meeting is also separate from the online meeting of OPEC+ ministers tomorrow, May 28.

Some sources said that a further increase in production in July seemed unlikely while oil production in May fell slightly, although the plan to increase production has taken effect. Previously, information showed that the market was likely to be supplemented with 411,000 barrels per day from July, after consecutive increases in May and June. According to Reuters, a senior Russian leader said that OPEC+ had not yet discussed increasing production by 411,000 barrels per day before the meeting.

Domestic gasoline prices may increase slightly this week

Elsewhere, both Brent and WTI gave up early gains after U.S. President Donald Trump said he had agreed to extend a deadline for trade talks with the European Union until July 9, marking another temporary trade policy delay. The extension eased concerns that U.S. tariffs on the EU could hurt fuel demand.

Forecasts show that oil prices today are unlikely to fluctuate, may decrease slightly, waiting for news on OPEC+ production and negotiations.

Domestically, updated reference prices of finished petroleum products on the Singapore market show that domestic gasoline prices in the next adjustment period (May 29) may increase slightly by a few dozen dong, while oil prices may decrease by a maximum of 330 dong/liter. This forecast does not include the Petroleum Price Stabilization Fund and other fees, if any changes./.

According to Thanh Nien Newspaper

Source: https://thanhnien.vn/gia-xang-dau-hom-nay-2752025-di-ngang-ngong-tin-san-luong-tu-opec-185250527084228702.htm

Source: https://baolongan.vn/gia-xang-dau-hom-nay-27-5-di-ngang-ngong-tin-san-luong-tu-opec--a196012.html