The price of Brent crude was $60 a barrel on the markets on Monday, up from $66 a barrel ten days ago. Estonian motor fuel sellers will be able to react to the price drop from Tuesday.

"Estonian fuel companies buy this fuel at the London spot price and Monday it was a bank holiday there. Trading will start again from Tuesday, so we will know in the evening what the price is going to be for Estonian companies. If the price stays as it is on Monday, or if the price on the plateau is also expected to drop, then the price at the fuel stations will most likely drop," said Circle K motor fuels category manager Kert Aader.

The main reason for the OPEC+ output increase is the volatile U.S. economic policy. The tariff war launched by President Donald Trump has already lowered global economic growth forecasts.

"If the global economy falls, demand will fall. That's one aspect of it. Another aspect is that OPEC members like money and they need it. So they are probably trying to compensate a little bit with volume for what they are missing out on as demand falls. And the market doesn't absorb it, so that's how the price comes down," said Peeter Koppel, sector manager at Redgate Capital.

The situation is a win-win consumers, with the main losers being some oil producing countries.

"The Russians will lose out because if oil prices continue to fall that far, they will be around $20 below the level of planned oil revenues in their national budget. In that case, of course it will be a setback for them and limit their military spending a little bit. It is also dangerous for some oil producing countries with higher production costs, like Russia," said analyst Raivo Vare.

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