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2020 June 22   09:53

Oil prices decline amid demand related concerns

Oil prices fell by 0.26%-0.48%

On 22 June 2020 (07:57, Moscow time), Brent Crude Oil futures price fell by 0.26% to $42.09 per barrel, Light (WTI) for June delivery fell by 0.48% to $39.55 per barrel. 

On 12 April 2020, OPEC+ approved new oil output cut by 9.7 million bpd in May-June, 7.7 million bpd in the second half and 5.8 million bpd by May 2022.

On 6 June 2020, OPEC+ agreed to extend oil-production cuts by 9.7 million bpd till the end of July.

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