OPEC may reduce oil production if the futures quotations continue to behave inadequately to the market, Saudi Arabia's Energy Minister Abdulaziz Bin Salman said. According to him, during the monitoring of the futures dynamics he noticed their isolation from the laws of supply and demand, and it negatively affects the oil market, Prime news agency. Since the beginning of July, the fall in the value of oil contracts has exceeded 20%.

On the one hand, investors' concerns about the impending global recession and the likelihood that large volumes of oil from Iran will enter the market contribute to the decline. On the other hand, the market dynamics is much worse than in the past history - investors refrain from trading due to the high volatility set against the backdrop of the Ukrainian conflict. At the same time, the reduction in the number of active traders contributes to its strengthening, according to some experts.

So far, OPEC, together with its allies, has been steadily increasing oil production, having lifted previous restrictions.