Oil prices start decreasing
Oil prices fell by 1.13%-1.16%
On 3 July 2020 (08:25, Moscow time), Brent Crude Oil futures price fell by 1.16% to $42.64 per barrel, Light (WTI) for August delivery fell by 1.13% to $40.19 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.