Oil prices are decreasing
Oil prices declined by 0.37%-0.42%
On 7 July 2020 (07:42, Moscow time), Brent Crude Oil futures price fell by 0.42% to $42.92 per barrel, Light (WTI) for August delivery fell by 0.37% to $40.48 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.