The decline in oil prices continues on the second trading day of the week due to the quarantine in China.

While oil prices focused on the OPEC+ meeting,  increase in cases in China continued to exert downward pressure on prices.

US crude oil traded at $ 105, while Brent oil fell to $ 111.

While the spread of the epidemic in China is closely watched by global markets, an increase in cases is observed in Shanghai, the financial center of the country.

OPEC+ is expected to see a slight increase in oil production in May, despite rising prices due to the Ukraine crisis and consumer demand for more supply.

Many oil-consuming countries, including the United States, urged producers to further increase their output as crude oil prices soared to over $139 a barrel this month.