Oil prices fell even more as too big increase in US inventories strengthened worries about supply surplus ahead of meeting between Russia and Saudi Arabia, Bloomberg reports.

Futures in New York fell yesterday by 2,5% after Energy Information Administration reported that local supply grows tenth week in a row supported by rising import. As a result, oil prices lost 30% since October.

Traders are waiting for the results of meeting between the leaders of Russia and Saudi Arabia this week, as they will set the mood for the next OPEC’s meeting at the beginning of December. OPEC’s members already discussed possible output cut by 1 million barrels per day next year.

WTI oil price fell to $50,29 per barrel. Brent lost 2,4% and was traded for $58,76 per barrel. Gasoline price fell by 1,6% to $1,3979 per gallon.