Oil reacted with a drop to OPEC + decision ease the production restriction in August
Oil prices are falling after yesterday's OPEC + meeting. On online conferences on Wednesday, it was decided to move in August to a new phase of limiting production, which involves easing quotas. The transition to it is carried out within the framework of the conditions of the current OPEC + agreement. The current restriction level is 9.6 million barrels per day, from August it will be 7.7 b / d. Today at 9:44 am Brent mark fell by 0.59% to $ 43.52, WTI - by 0.87% to $ 40.84. Yesterday after the decision of the conference participants to increase production oil quotes fell 2%. However, according to Saudi Arabian Energy Minister Abdulaziz bin Salman, higher production in August will not be noticeable for market. Against the backdrop of the current recovery in demand for oil supply, which will increase with the transition to a new phase, will be consumed. Countries around the world are lifting restrictions on their economics, albeit with caution, said the minister.