Members OPEC decided to leave the crude production level unchanged, which, combined with expectations of growth of oil and oil products stocks in the USA, caused the quotations to fall below $82 per barrel. At NYMEX oil fell by $0.54 to $81.67 per barrel.
Economists predicted the Energy Department's report on the state of oil reserves, to be released Thursday, should show an increase of 1.4 million barrels to 362.3 million.
OPEC The Russian government does not plan to change oil production quotas, as it believes that at the moment the "black gold" market is sufficiently balanced and does not need additional supply.
Ahead of this week's meeting of the oil cartel members, traders are locking in profits as decisions are being made. OPEC serve as a bearish factor for oil prices.