World oil prices increase

World oil prices increase
World oil prices increase

The world oil price has grown within the framework of the world oil correction, which is due to the reduction of quarantine restrictions in some countries and the decline in demand for raw materials.

Brent crude oil futures rose 0.37% to $ 73.97 a barrel. September futures rose 0.48% to $ 74.86 a barrel.

WTI September futures rose 0.32% to $ 72.14 a barrel.

Experts estimate that the spread of the Delta strain is a concern for traders. Tightening quarantine restrictions may hinder the recovery of the economy and reduce demand for oil.

The OPEC + countries have reached a compromise on oil production. The parties agreed that from August, oil production would increase by 400 thousand barrels per day. Consequently, countries will reach pre-crisis levels by the end of 2022.

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