WTI oil stopped declining and reached level close to $65 a barrel after it dropped below key technical level yesterday, Bloomberg reports. Oil prices volatility increases before June meeting of OPEC and its partners.

Futures in New York gained 0,7% after declining by 5,1% during last three sessions. Volatility index for oil is the highest in four months. Meanwhile, OPEC’s output last month was 31,9 million barrels per day, the same as in April when production was at the lowest level in a year.

The highest oil price in more than three years started dropping after Saudi Arabia and Russia proposed increasing output to substitute for potential decline in shipments from Venezuela and Iran.

WTI oil with July delivery went up to $65,23 a barrel today. Yesterday it declined by 1,6% to $64,75 a barrel. Brent oil rose to $75,73. Yesterday it lost 2% and cost $75,29 a barrel.

Futures in Shanghai declined by 1,3% and cost 464,8 yuan. Yesterday they went down by 0,8%.

Gasoline futures increased by 0,2% to $2,1274 a gallon after they lost 2,8% during last three sessions.

OPEC meeting will take place in Vienna on June 22.