MOSCOW, June 3. /TASS/. The price of futures contracts of Brent crude oil for August delivery was down slightly at the beginning of trading on London's ICE following the decision by a number of OPEC+ countries to extend voluntary oil production cuts to Q3, according to trading data.

The Brent price was down by 0.77% at $80.78 per barrel against the previous closing on May 31 whereas the price of futures contracts of WTI crude oil for July delivery was down by 0.61% at $76.72 per barrel.

On June 2, eight OPEC+ nations (Algeria, Iraq, Kuwait, Saudi Arabia, Russia, the UAE, Kazakhstan and Oman) extended voluntary crude output reductions of 1.66 mln barrels per day until the end of 2025, while cuts in the amount of 2.2 mln barrels per day introduced later were extended until this October. The next ministerial meeting of OPEC+ will take place on December 1.