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Oil prices increasing worldwide

Oil prices increasing worldwide
Oil prices increasing worldwide

As of July 6, world oil prices have increased.

Brent oil futures for September delivery increased by 0.19% to $ 77.31.

As for the value of WTI oil August futures, it decreased by 1.58% to $ 76.35, which is a record high since 2014.

Informal talks between OPEC + member states continue, and an official meeting may be held at the end of the week.

The United Arab Emirates is not going to agree if the country does not have a higher basic level of production.

Since May last year, OPEC + has cut oil production by 9.7 million barrels per day due to the declining demand for oil caused by the coronavirus pandemic. As a result of the stabilization of the situation, restrictions were eased, and in May 2021, the organization reduced oil production by 6.55 million barrels, in June - by 6.2 million, and in July - by 5.76 million.

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